The Channel logo

News

By | Mark Ballard 16th March 2007 14:50

Phoenix makes tentative offer for ICM

Conditions apply

Phoenix IT Group, a publicly-listed managed services company, has tabled a conditional offer to buy business continuity firm ICM Computer Group.

The firms announced in January that they were chatting. Phoenix has put in an offer equating to 415 pence per share. At the time this article went to press, ICM last closed trading at 386 pence per share.

Phoenix said in a statement that the offer was attractive for shareholders. It has asked for more information about ICM's customers before firming the offer up.

"Assuming satisfaction of the above and a successful and cooperative process going forward, Phoenix believes that it is in a position to make an offer for ICM in the very near future," the statement said.

ICM was not prepared to comment.

It is also considering a buyout buy its management team, Stephen Wainwright, Craig Fairey, and Anthony Granelli, who have yet to put in an offer.®

alert Send corrections

Opinion

Walking on water, image via Shutterstock

Chris Mellor

IDC stats reveal who's who in the backup appliance bearpit
Carry on Cleo

Gavin Clarke

Infamy, infamy, Amazon and Microsoft have all got it in for me!

Tim Anderson

Also signals stronger cross-platform tools, access to new markets

Features

Nerd fail photo via Shutterstock
Shouting match
Single market vs. rest of the world
hacker
Mostly it's financial crime. Here's what all the cool kids' terms mean in English
Apple logo. Pic: Blake Patterson
Plenty of bumps in the 40-year road for Mac makers