Inspecs receives several unsolicited takeover offers

(Sharecast News) - Inspecs Group confirmed on Friday that it has received separate unsolicited takeover approaches from private equity firms H2 Equity Partners and Risk Capital Partners, alongside Ian Livingstone, and a third proposal from Italy's Safilo Group to buy part of its business. The AIM-traded eyewear manufacturer said both H2 and the consortium of Risk Capital Partners and Livingstone had outlined non-binding possible cash offers, with the potential for alternative proposals including unlisted securities, to acquire the entire issued and to be issued share capital of the company.

Separately, Inspecs said it received a proposal on 21 October from Safilo to acquire its Eschenbach Group and BoDe businesses.

"There can be no certainty that an offer will be made, nor as to the terms of any offer if made," the company said.

Under the Takeover Code, both H2 and the consortium had until 1700 GMT on 20 November to announce a firm intention to make an offer, or to confirm that they did not intend to proceed, unless the deadline was extended with the consent of the Takeover Panel.

At 0924 BST, shares in Inspecs Group were up 23.96% at 59.5p.

Reporting by Josh White for Sharecast.com.