C&W expects Energis deal in the bag in time for tea

15 Aug 2005

Cable & Wireless (C&W) is today expected to confirm its takeover of UK IT services and telecoms solutions provider Energis, after holding firm against a number of investors looking to push up its GBP830 million offer. Citing sources close to the deal, the Financial Times says C&W is ‘optimistic’ of having its bid accepted today following its refusal to increase its offer ‘under any circumstances’. C&W is widely regarded as the only bidder for the struggling company. The bid will expire at 5pm UK time today unless 75% of Energis investors accept.

United Kingdom