Company and markets news

Phoenix IT Group plc in takeover discussions

Phoenix IT Group, one of the leading providers of business continuity services to the UK market, has announced that it is in advanced takeover discussions.

In a statement issued on 21st May 2015 Phoenix IT Group says that the company has received an approach from Daisy Group Limited and Toscafund Asset Management LLP, regarding a possible recommended cash offer for the entire issued and to be issued share capital of the Company at a price of 160 pence per share.

The statement also says that the board of Phoenix “has indicated to Daisy that it is willing to recommend the key financial terms of the Possible Offer to Phoenix's shareholders, subject to finalising the other terms and conditions of any offer.”

In accordance with stock market rules Daisy must announce a firm intention to make an offer for Phoenix by 5pm on 18th June.

Read the full statement.



Want news and features emailed to you?

Signup to our free newsletters and never miss a story.

A website you can trust

The entire Continuity Central website is scanned daily by Sucuri to ensure that no malware exists within the site. This means that you can browse with complete confidence.

Business continuity?

Business continuity can be defined as 'the processes, procedures, decisions and activities to ensure that an organization can continue to function through an operational interruption'. Read more about the basics of business continuity here.

Get the latest news and information sent to you by email

Continuity Central provides a number of free newsletters which are distributed by email. To subscribe click here.