Inchcape eyes Gestetner
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.INCHCAPE looks poised to increase its stake in Gestetner, the photocopier sales company, in a move that some observers think could be a precursor to snapping up the whole group.
The international trading group has an option to lift its 15 per cent stake to 24.6 per cent at a price of 172p a share. But that option expires on 1 July.
The two companies have been moving closer together over the past year. Stephen King, a former director of financial control at Inchcape, became finance director at Gestetner in September.
Speculation that Inchcape would mount a bid drove its share price down 8.5p to 466.5p last week, while Gestetner's price rose from 163p to 175p.
Inchcape's shares have also been under pressure recently following a profit warning in late May.
Sir David Plastow, the company's chairman, blamed disappointing trading on the strength of the yen and the Japanese recession, the downturn in continental motor markets and austerity measures in China.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments