What went wrong in Dillons buyout?

Article Abstract:

The planned 65 million pounds sterling management buyout of the Dillons chain of book shops should have been relatively simple to arrange, and the venture capitalists and management advisers involved in arranging the deal were therefore criticised when it failed, especially as the receivers accepted a lower bid from Thorn-EMI. Some observers believe that this should serve as an example, giving information on how to ensure that buyout bids of this kind are managed more effectively in the future. However, it must be remembered that there were much more complicated issues involved than simply ensuring that the management team submitted the highest bid.

Book Stores, Management, Bookstores, Dillons Bookstore Group

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Disposals made simple

Article Abstract:

Some observers now believe that there are a number of negative factors associated with management buy-outs. They can distract managers' attention from actually running the business, for example, and can prompt vendors to perceive risk if the deal does not take place. Venture capitalists are responding to these concerns by offering new deal structures. They are now willing to act as principal and financial buyer, and in this way gain greater control over the financial structure of the buy-out.

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Kingsland in high spirits

Article Abstract:

Strong financial knowledge allowed a management buyout team managed to raise 14 million pounds sterling to buyout Kingsland Wines and Spirits, based in Manchester, UK, during February 2001.

United Kingdom, Mergers, acquisitions and divestments, Wine industry, Wineries, Kingsland Wines and Spirits

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