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T&B bids Elim to buy up ADG

15th May 1997, Page 8
15th May 1997
Page 8
Page 8, 15th May 1997 — T&B bids Elim to buy up ADG
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Which of the following most accurately describes the problem?

• Tibbett & Britten moved a step closer to acquiring Applied Distribution Group for £17m with this week's issue of shares to fund the bid.

T&B made an offer for the warehousing and distribution group last week and is now holding talks with its major shareholders.

Applied Distribution's business would be integrated into Tibbett & Britten's UK nonfood consumer group. But neither company is talking about plans to integrate the work of Applied Distribution's approxi mately 3.000 drivers with Tibbett & Britten's 5,000.

The bid from T&B comes three months after Applied Distribution said it was in takeover talks after profits fell from £1.5m to £280,000.

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