Goshawk said today a proposed takeover by Phoenix Asset Management would be of “no benefit” to the company.
Phoenix, which is Goshawk's largest shareholder with 28.9% of the company, launched a scathing attack on Goshawk last week for paying its chairman Paul Spencer and chief executive Russell Brooke too much money while failing its shareholders.
It said it would hold meetings with Goshawk's other shareholders to discuss replacing the company's board.
A statement from Goshawk today said it would fight the takeover.
Brooke said: “We see absolutely no value to shareholders or the company in being distracted from our core business.
“The board and management have been fully dedicated to the interests of all shareholders in successfully rescuing the company from its dire condition in late 2003 and with the ongoing support of shareholders can continue to build value.”
