Chief executive Steve Burrows wins 98% shareholder approval to take over Cobra
The acquisition vehicle, Alto, led by Steve Burrows, has won the battle to buy Cobra.
A Stock Exchange announcement this morning revealed that 98% of shareholders had agreed to accept Cobra chief executive Burrows offer of £7.3m.
The remaining 2% of shareholders have been urged to sell up. Burrows only competition had been Towergate, but the consolidator dropped out of the race in May.
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