UK OFT clears Pinewood takeover for Peel Holdings
Publication Date: Wed, 22 Jun 2011 09:44
The UK's Office of Fair Trading says a bid by Peel Holdings for Pinewood Shepperton Studios does not need to be referred to the Competition Commission.
Peel Holdings, owned by the Isle of Man's wealthiest resident John Whittaker, valued the studios at £96.1million, or 200p per share.
The takeover was delayed whilst the OFT looked into the bid.
The offer will remain open to Pinewood's board until July 8th.
Peel Holdings already owns 29.7% of the company
