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October 21, 2009
Old Mutual gets board stamp, but déjavu persists
In its latest bid to buy out the minority shareholders in Mutual & Federal (M&F), Old Mutual has done a few things a little differently. It has managed to get a corporate bank to provide a "fair and reasonable" stamp of approval and, as a result, has been able to secure the support of the M&F board.
Other than that there is a depressing sense of déjavu about this proposed transaction, not just in the manner in which it is to be implemented, but also in the "tightness of the price" being offered.
Posted by StaffWriter at October 21, 2009 9:35 AM