The Channel logo


By | Kelly Fiveash 25th May 2007 14:24

Phoenix shareholders say yes to ICM bid

Thunderbirds are go?

Phoenix shareholders have given the proposed acquisition of ICM Computer Group an enthusiastic thumbs up.

All resolutions were passed by the firm's shareholders.

The total number of votes cast was 45,478,689 on three resolutions, of which less than one per cent objected to the take-over of the business continuity firm.

Earlier this month, Phoenix confirmed it had placed an offer on the table of £107.8m to purchase ICM, effectively brushing aside any chance of a bidding war.

Fawkes had touted a smaller sum to acquire the firm only to later withdraw its offer.

With comprehensive backing from its shareholders, Phoenix will be looking to close the deal soon.

ICM shares are currently trading at 510 pence per share, up 2.25 per cent on the London Stock Exchange. ®

alert Send corrections


George Osborne, photo: HM Treasury
shutterstock_183801788_container ship

Chris Mellor

The SAN growth glory days are well and truly over, so where next?

Tom Whipp

Insurance industry insider tells all
Crypto fingers


Michael Dell. Pic by Joi Ito
Cool Texas dude is just your average billionaire
The Seeing Eye by Valerie Everett, Flickr, CC2.0
Follow the money – or, at least, our projections
Boats storm girl photo via Nikolina Mrakovic
The puppets from Team America: World Police gather at a bar for drinks.