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Article: New Look founder Tom Singh plots pounds 650m approach to take fashion retailer private
- Article from:
- The Sunday Telegraph London
- Article date:
- August 31, 2003
- Author:
CopyrightCopyright 2003 The Sunday Telegraph London. Provided by ProQuest LLC. (Hide copyright information)
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TOM SINGH, the founder of New Look, will table a pounds 650m offer
for the fashion retailer this week.
The entrepreneur hopes that the indicative offer, worth in the
region of 330p a share, will secure the support of the New Look board
for his bid.
Singh, who founded New Look in 1969 when he opened a store in
Weymouth, already controls along with his family around 28 per cent
of the shares in the fashion retailer.
Singh, a non-executive director at New Look, is being backed in
his bid by Apax Partners, the venture capital firm. As part of his
offer, Singh will ask the New Look board to give the executive
management team permission to work with him on the bid.
He also wants access to the ...