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Article: u260 MILLION BID BATTLE HOTS UP AT PIZZA EXPRESS.
- Article from:
- The Evening Standard (London, England)
- Article date:
- February 27, 2003
- Author:
CopyrightCOPYRIGHT 2003 Solo Syndication Limited. 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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Byline: NICK GOODWAY
A u260 million bid battle erupted today for Pizza Express after entrepreneur Luke Johnson revealed an agreed takeover - only to be challenged by a last-minute rival bid.
Just minutes after Johnson unveiled a cash deal worth 370p a share, a consortium led by two venture capitalists announced it was considering a higher offer for the struggling 311-strong restaurants chain.
The pair, UK-based TDR Capital and Capricorn, owner of the Nando's flame-grilled chicken chain, hope to outbid Johnson, who famously floated Pizza Express in 1993.
Johnson, in partnership with Ian Eldridge who quit as Pizza Express's chief ...