£78m offer for home shopping channels
Ideal Shopping Direct's management is working with private equity firm Inflexion on the proposed buy-out, which has been backed by independent members of the company's board.
The offer price of 220p-a-share is a 46 per cent jump on July's level, when a number of takeover approaches prompted the company to start a strategic review.
Advertisement
Hide AdAdvertisement
Hide AdThe proposed takeover is backed by founders Paul Wright and Val Kaye, who own 36 per cent of the company, and other shareholders who own a further 31 per cent. Under the terms of the deal, the existing management team will be retained, and will hold a 23 per cent stake in the company.