Wednesday 27 May 2009 8:00 pm

OPD Group sets out offer terms

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RECRUITER OPD Group yesterday revealed the terms of a cash offer for the firm from a management buyout team led by chairman Peter Hearn and backed by private equity firm Graphite Capital.

The 57p-a-share offer values the group at around £15.1m. Hearn and Graphite are supported by chief executive Francesca Robinson and directors Richard Boogis-Rolfe and Baroness Virginia Bottomley. Independent director Doug Sutherland and finance director Ian Moss have also assented their shares. The buyout group currently controls around 32.1 per cent.