Search
 

GlobeSt.com UPDATE: Reichmann Confirms Canary Wharf Bid Talks

LONDON-Canary Wharf has backtracked on earlier denials that founder Paul Reichmann is in talks to take the company private. Apparently at the insistence of the Takeover Panel it has now confirmed that Reichmann is discussing a role with potential bidders for the group.

By Graham Parker | Updated on August 27, 2003

LONDON-In a statement late last night Canary Wharf backtracked on earlier denials that founder Paul Reichmann was considering a management buyout of the company. At the request of the takeover panel, the company announced: “With the consent of the board of the company, Mr. Reichmann is discussing his possible involvement with third party potential offerors. Mr. Reichmann has indicated to the board that he may consider forming a consortium to make an offer for the company depending on the outcome of these discussions and the terms of any offers for the company.”

Earlier in the day the company was still insisting, despite press reports to the contrary, that Reichmann had not “formed any definitive intention” to form a consortium, but that he continued to “review his options”.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.