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Watford near takeover following £400k bid

Watford Football Club has received a takeover offer in the region of over £400,000 from a company owned by Laurence Bassini.

The Hornets, currently in the npower Championship, are owned by Watford Leisure PLC but currently making a loss with a figure of around £3.5m needed in working capital at Vicarage Road.

Watford FC Ltd has made a bid of £440,000 for Watford Leisure Plc with independent directors at the club not recommending the sale due to the discount it represents to the company’s share price.

But Lord Ashcroft, Graham Simpson and Yianna Simpson, who between them own 53.95% of the shares, have agreed to accept the offer.

Watford FC Ltd was set up in January with the specifically to make a takeover approach.  

 

Scott Hobro

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