Peel Pinewood bid blocked

Warren James, the jeweller, has taken its stake in Pinewood Studios above 25 per cent in a move that will block Peel Holdings from delisting the company when they take control, reports the FT.

The takeover has been agreed, as Peel have agreement from over 30% of shareholders to add to their existing 29% share. However, with Warren James taking over 25%, they will not be able to pass the 75% threshold necessary for delisting.

SeeĀ previous coverage.

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