Carpetright accepts Meditor takeover offer

Carpet right jpg

Carpetright has accepted a takeover offer from its financier Meditor and called on investors to back the bid as it seeks cash to repay debt and provide working capital.

In a statement to the London Stock Exchange this morning, Carpetright confirmed it had received and accepted a cash offer from Meditor “to acquire the entire issued and to be issued share capital” of the retailer.

Carpetright has called on all shareholders to back the 5p per share offer for the business by Meditor at a value of £15.2m, as it looks to refinance itself to repay debt and provide working capital.

Meditor owns around 29% of Carpetright and has been financing its revolving credit facility and overdraft facilities, both of which are due to expire at the end of the year.

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