The Channel logo

News

By | John Oates 8th May 2008 15:20

Fayrewood ends takeover talks

Time for a plan B

Fayrewood has ended takeover talks with North Atlantic Value LLP which could have led to the company being bought.

Distributor Fayrewood, which trades as Interface Solutions, had been in talks since November 2007. It is not the first time the company has been rebuffed by a suitor - previous takeover talks in 2005 were also mysteriously ended.

The company has assets of £36.9m, of which £32.2m are in cash. Barclays Bank holds €6m of this to cover guarantees relating to UMD SA, which was sold to Esprinet SpA.

The board is now looking at other ways of returning cash to shareholders. Trading at Interface Solutions is in line with expectations. ®

alert Send corrections

Opinion

frustration_anger_irritation_annoyance pain

Felipe Costa

Pressure to perform for stock market bearing down on disties
Columns of coins in the cloud

Michael Cote

Anything that simple to use has got to be complex to set up
Internet of Things

Gavin Clarke

This time, Larry's Oracle is going after the networking giants

Features

No email? No CRM? No Daily Mail iPad edition? You need a plan
Sinofsky's hybrid strategy looks dafter than ever
Failure to crack next-gen semiconductors threatens to set back humanity
SMEs get lip service - what they need is dinner at the Club