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Goldshield agrees 166m deal with AIT

PHARMACEUTICAL firm Goldshield last night said it had agreed terms on an improved &pound;165.7m offer made by AIT, its former chief executive&rsquo;s&nbsp; bid&nbsp; vehicle.<br /><br />AIT yesterday raised its offer to 450p, up from its 440p original bid. <br /><br />Goldshield, which manufacturers appetite suppressant drug Appesat, found itself in the centre of a bid battle after the executive management team tried to gatecrash AIT&rsquo;s offer.<br /><br />AIT, made up of the owners of Neopharm, the Fuhrer family, and former chief executive Ajit Patel, lifted its bid to a premium of 32 per cent&nbsp; to the price the shares closed at before the bid was made public.<br /><br />Earlier this week City A.M. revealed that the group&rsquo;s management team had failed to trump AIT&rsquo;s offer, despite working on a bid since January. However, a source close to Goldshield said it would be willing to listen to a higher offer from the rival&nbsp; executive management team.<br />