Carpetright Investors Vote In Favour Of Acquisition Deal

On 15 November 2019, the boards of Carpetright and MHL announced that they had reached agreement on the terms of a recommended cash acquisition pursuant to which MHL would acquire the entire issued and to be issued ordinary share capital of Carpetright (save for the Excluded Shares) (the "Acquisition").  The Acquisition is being implemented by means of a Court-sanctioned scheme of arrangement under Part 26 of the Companies Act 2006 (the "Scheme").

Carpetright has announced that that the Court Meeting to consider the Scheme and the General Meeting to consider the Special Resolution relating to the Acquisition were held yesterday (18th December) and all resolutions were approved by the requisite majorities.

Nearly 80% of Carpetright's investors voted to support the deal, which values the floorcoverings retailer at c.£15m.

Source : Insight DIY Team

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