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Goldshield management fail to trump AIT's offer

THE TAKEOVER battle for drug firm Goldshield was believed to be in its final stages yesterday.<br /><br />It now seems unlikely that someone will table a better bid than the &pound;162m being offered by AIT, the investment vehicle of former chief executive Ajit Patel.&nbsp;&nbsp; <br /><br />Goldshield management, who own 9.62 per cent of the firm, on Monday confirmed they were trying to gatecrash AIT&rsquo;s 440p-a-share offer. <br /><br />But the group&rsquo;s independent directors revealed that the management team has already made several failed offers for the group since January. <br /><br />The management, including current chief executive Rakesh Patel, have yet to come up with a higher bid than AIT&rsquo;s &ndash; despite criticising the 440p-a-share offer as &ldquo;too low&rdquo;. <br /><br />Analysts said they believed the battle to be over now, with AIT assuming control of the group shortly.