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A management buy out of kitchen appliances distributor Waterline has been put on hold because of another bid.
The independent directors say that discussions with the buy out vehicle Woburn Ventures have been “postponed”. Instead they have entered exclusive talks with a third party. This potential offer is still subject to a recommendation by the board among other things.
The shares have drifted lower since the original potential offer announcement. They perked up 1p to 55.5p on this news. Waterline floated in July 2005 at 84p a share.
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