Feeds

Viglen shareholders jump for Sugar offer

They don't buy undervalued argument

  • alert
  • submit to reddit

Internet Security Threat Report 2014

Viglen Technology's shareholders have ignored executive chairman Alan Sugar and accepted his bid to buy them out of the company. Shareholders accounting for 22 per cent of the company accepted the purportedly reluctant takeover bid of Sugar's wholly-owned holding company, Amshold. Sugar's 24p per share offer for the PC builder is now unconditional, following the result, which increases Amshold's control of Viglen share capital to 63.76 per cent. Viglen shareholders acted against Sugar's recommendation to refuse the offer -- which undervalued the company, he argued. The move came after Sugar, also Tottenham Hotspur chairman, bought more than nine million shares last month at 24p, taking his stake in the company to 41.7 per cent. This obliged him under Takeover and Mergers rules to make an offer for all remaining shares. Nick Hewer, Sugar's spokesman, denied shareholders were bailing out because they had lost confidence in the Middlesex-based company. He stated: "When the offer went in, the shares were at 14p. Sugar's offer was 24p. They saw it as a good deal." IDC analyst Terry Ernest-Jones countered: "Viglen's shareholders probably feel insecure because the company is in a state of change at the moment." ®

Providing a secure and efficient Helpdesk

More from The Register

next story
Scrapping the Human Rights Act: What about privacy and freedom of expression?
Justice minister's attack to destroy ability to challenge state
WHY did Sunday Mirror stoop to slurping selfies for smut sting?
Tabloid splashes, MP resigns - but there's a BIG copyright issue here
Google hits back at 'Dear Rupert' over search dominance claims
Choc Factory sniffs: 'We're not pirate-lovers - also, you publish The Sun'
EU to accuse Ireland of giving Apple an overly peachy tax deal – report
Probe expected to say single-digit rate was unlawful
Inequality increasing? BOLLOCKS! You heard me: 'Screw the 1%'
There's morality and then there's economics ...
Hey Brit taxpayers. You just spent £4m on Central London ‘innovation playground’
Catapult me a Mojito, I feel an Digital Innovation coming on
While you queued for an iPhone 6, Apple's Cook sold shares worth $35m
Right before the stock took a 3.8% dive amid bent and broken mobe drama
EU probes Google’s Android omerta again: Talk now, or else
Spill those Android secrets, or we’ll fine you
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
The next step in data security
With recent increased privacy concerns and computers becoming more powerful, the chance of hackers being able to crack smaller-sized RSA keys increases.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.