The Moss Bros takeover saga has taken yet another dramatic turn as Brigadier Acquisition Company seeks to appeal a ruling from the Takeover Panel that the deal must move forward. This comes after Brigadier had initially agreed to a £22.6 million takeover of the menswear retailer back in March, only to later request to cancel due to the challenges brought on by the Covid-19 pandemic. Despite Moss Bros and certain key stakeholders being satisfied with the Panel’s decision, Brigadier is now fighting back and demanding a review of the ruling.
The ongoing uncertainty surrounding the outcome of this appeal has cast a cloud of doubt over the future of Moss Bros. The company has vowed to take all necessary steps to hold Brigadier accountable to the terms of the agreement as outlined in the Takeover Code. On the other hand, Brigadier has chosen to remain tight-lipped on the matter, leaving many aspects of the situation unclear and open to speculation.
The intense back-and-forth between these two parties serves as a stark reminder of the upheaval and turbulence that numerous businesses have experienced in the wake of the ongoing global health crisis. It underscores the complexities and hurdles that arise when companies find themselves grappling with unpredictability and unforeseen challenges.
With the Moss Bros takeover saga continuing to unfold, investors and industry observers are eagerly watching to see how this conflict will be resolved. Will Brigadier ultimately be compelled to adhere to the original terms of the agreement, or will Moss Bros be forced to seek out a new potential buyer? Only time will reveal the outcome as both sides brace themselves for the final verdict on this high-stakes transaction.
For more information on the Moss Bros takeover drama, visit BBC News and Financial Times – Companies.
