Madison Holdings

Lloyds TSB Development Capital’s intention to buy out Madison and Leeda, leading distributors of cycling and fishing equipment in the UK, from H Young Holdings has run into difficulties as shareholders objected to the planned divestments. Proceedings were halted following a rival bid to acquire the whole company proposed by Ronald Samann, a Canadian entrepreneur and 17% shareholder in H Young. Samann’s vehicle, Lakefield Holdings, is offering 73.5p a share, plus the 3.5p dividend announced by the company two weeks ago. H Young has adjourned its extraordinary meeting to approve the disposal of Madison and Leeda until 29 March, although the company may seek shareholder approval for a further postponement until 12 April.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• UK / Ireland