Chisbridge offer for InterQuest receives 50+% backing

The board of Chisbridge has achieved the shareholder backing it needs to acquire technology recruiter InterQuest.

In a statement released this morning, Chisbridge, a company set up by InterQuest chairman Gary Ashworth, CEO Chris Eldridge and chief financial officer David Bygrave, revealed its offer now has the backing of 50.58% of shareholders. More than 50% of shareholders need to back the deal for the management buy-out to go ahead.

Chisbridge first bid to buy the company in May, valuing the group at 42p per share.

Commenting this morning, Ashworth told Recruiter he is “delighted to have won this important battle”.

“The offer has been declared unconditional in all respects.

"The directors of Chisbridge are now considering their next steps

“We have kept the offer open until the 14th August so that the remaining shareholders can still make up their mind.”

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