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Private equity firm makes preliminary approach
The Board of Clipper Logistics plc has received a preliminary approach from Sun European Partners, LLP in relation to the potential acquisition of the entire issued, and to be issued, share capital of the Company.
There can be no certainty that an offer will be made for the Company, nor as to the terms on which any offer will be made.
Following this announcement, Clipper is now considered to be in an ‘offer period’ and the Board has appointed Numis Securities Limited as financial adviser.
Rule 2.6(a) of the Code requires that Sun European Partners, LLP, by no later than 5.00 p.m. on 18 December 2019, being the 28th day following the date of this announcement, either announces a firm intention to make an offer for Clipper in accordance with Rule 2.7 of the Code or announces that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline will only be extended with the consent of the Takeover Panel, in accordance with Rule 2.6(c) of the Code.