• PizzaExpress directors to talk with new bidders

LONDON -- The takeover battle for PizzaExpress will intensify this week when the 311-store chain's directors discuss an offer from venture capital firms TDR Capital and Capricorn Ventures International.

According to The Telegraph, the offer is expected to be significantly higher than a 367 pence-per-share offer by Luke Johnson and backed by Venice Bidder.

Shares of PizzaExpress sold at times last week for more than 380 pence (U.S. $6.09) in anticipation of a higher offer, but closing price for the week was 376 pence (U.S. $6.02).

Its shares have plummeted from 921 pence (U.S. $14.75) last year.

The TDR consortium has financial backing from HBOS, a bank.

TDR, founded by Manjit Dale, wants to keep the PizzaExpress business intact, including its overseas operations and other non-core businesses. Johnson has suggested he would sell the overseas business were he to gain control.

Dale is an associate of Hugh Osmond, the entrepreneur who, along with Johnson, founded and took PizzaExpress public. Following the float of the chain, Johnson and Osmond split as business partners.

Related Content

User Comments – Give us your opinion!
Products & Services

Solutions

http://global.networldalliance.com/new/images/products/4551.png

4551/Solutions

Call Center Ordering

http://global.networldalliance.com/new/images/products/5939.png

5939/Call-Center-Ordering

Can you prove your restaurant POS is PCI-compliant?

http://global.networldalliance.com/new/images/products/1292.png

1292/Can-you-prove-your-restaurant-POS-is-PCI-compliant

Restaurant Sales Builder

http://global.networldalliance.com/new/images/products/4286.png

4286/Restaurant-Sales-Builder

Cured Meats

http://global.networldalliance.com/new/images/products/6791.png

6791/Cured-Meats

FireFly Point-of-Sale

http://global.networldalliance.com/new/images/products/4282.png

4282/FireFly-Point-of-Sale

DriverAdvisor Fleet Monitoring

http://global.networldalliance.com/new/images/products/DriverAdvisor_iix.gif

1425/DriverAdvisor-Fleet-Monitoring

Put your menu in your customers' pocket

http://global.networldalliance.com/new/images/products/1293.png

1293/Put-your-menu-in-your-customers-pocket

Enterprise Reporting & Management

http://global.networldalliance.com/new/images/products/6813.png

6813/Enterprise-Reporting-Management

Pepperoni

http://global.networldalliance.com/new/images/products/6787.png

6787/Pepperoni

Request Information From Suppliers
Save time looking for suppliers. Complete this form to submit a Request for Information to our entire network of partners.