Information  X 
Enter a valid email address

Waddington PLC (WDJ)

  Print      Mail a friend

Wednesday 26 January, 2000

Waddington PLC

Further re Offer by John Mansfield Group

Waddington PLC
26 January 2000

               Waddington PLC ('Waddington' or the 'Company')



On  7  December  1999, John Mansfield Group PLC ('Mansfield')  announced  the
terms  of  an offer for the entire issued and to be issued share  capital  of
Waddington (the 'Ordinary Offer').  The terms of the Ordinary Offer were  set
out  in  an  offer  document sent to Waddington Ordinary Shareholders  on  21
December 1999.

At  that time, after taking into consideration the outlook for the Company in
the absence of a change of ownership and the damaging effect of the continued
uncertainty  as to the future of the business on the trading performance  and
employees  of  Waddington, it was the view of the Independent Directors  that
the  Ordinary Offer from Mansfield represented a serious proposal  worthy  of
consideration  by  all  Waddington Ordinary  Shareholders.   The  Independent
Directors  stated,  however,  that they would  continue  to  actively  pursue
discussions  with other parties to establish whether a more attractive  offer
could be made for the Company.

The  Independent  Directors of Waddington announce that, despite  pursuing  a
number  of  alternatives  to procure an attractive competing  offer  for  the
Company  involving  discussions with a number  of  parties  -  including  the
executive  directors and their financial backers - over a significant  period
of  time,  they  do not now expect any competing offer to  be  made  for  the
Company.   Consequently, the Independent Directors recommend that  Waddington
Ordinary  Shareholders accept the Ordinary Offer as  they  intend  to  do  in
respect  of their own beneficial shareholdings amounting to 42,836 Waddington
Ordinary  Shares, representing approximately 0.04 per cent.  of  the  current
issued ordinary share capital of Waddington.


_____________________________________________________________________________

PRESS ENQUIRIES

Financial Dynamics                                           0171 831 3113
Tim Spratt                                                   


                                                                                                                                                                                           

a d v e r t i s e m e n t