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Article: ALCHEMY DEAL OFF.
- Article from:
- Birmingham Evening Mail (England)
- Article date:
- April 28, 2000
- Author:
CopyrightCOPYRIGHT 2000 Birmingham Post & Mail Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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JOHN Towers' Phoenix group has a month to sew up the Rover deal following today's dramatic collapse of the Alchemy takeover bid.
BMW this afternoon set aside four weeks to complete the sale of the Midland car firm - but warned that it would also consider closure.
In a statement, BMW spokesman Hubert Bergmann said: 'BMW Group will now pursue alternative routes to bring to an end its involvement in Rover Car operations.
Left stunned
'Those routes include the sale of Rover Car operations or its closure. A decision which of those alternatives ...