Investor row erupts over Loungers private equity bid Investing An investor battle has erupted over a private equity bid for Cosy Club and Brightside operator Loungers, with some “furious” over the perceived low offer. On Thursday, the Loungers board backed a £338m takeover offer from Fortress Investment Group, a 30 per cent to its share price. Despite the board accepting the offer, various shareholders [...]
Cosy Club owner Loungers snapped up by Fortress for £338m Business Fortress will offer 310p per share, which is a 30 per cent premium to Loungers' closing price yesterday and above its highest ever trading price.
Majestic Wine and Poundstretcher owner Fortress cuts costs Business The UK arm of Fortress Investment Group, whose portfolio includes the likes of Majestic Wine, Punch Pubs and Poundstretcher, saw its revenue and profit dip during 2023 as its US owner cut costs.