Avonside looks at private benefits
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.AVONSIDE YESTERDAY joined the growing list of smaller companies turning private, announcing it had agreed a pounds 22.38m, 55p a share cash bid from Novaside, a company set up by Craig Slater, one of its directors, and venture capitalists Alchemy Partners. Novaside said it had received irrevocable undertakings in respect of 0.30 per cent of the capital to accept the offer, which represents a premium of 37.5 per cent to Avonside's share price the day before it confirmed it had been approached.
Both sides said the privatisation would remove the financial, managerial and regulatory burdens of being a listed company and enhance Avonside's ability to respond to opportunities and market demands quickly.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments