LONDON: The board of directors of Science in Sport Plc confirmed that the company has received an approach from bd-capital at a price of 34 pence per share, which may or may not lead to an offer for the entire issued and to-be-issued share capital of the company.
An independent committee of the board evaluated the indicative terms of the possible offer and concluded that it would be inclined to recommend the proposal if a firm intention to make an offer under Rule 2.7 of the Takeover Code is announced.
Discussions are at an advanced stage, but there is no certainty that a firm offer will be made or what its terms may be. A further announcement will be made as appropriate.
Headquartered in London, Science in Sport Plc is a leading sports nutrition company that develops, manufactures and markets innovative products for professional athletes, fitness enthusiasts and the active lifestyle community.
In 2022, the company opened a state-of-the-art, 160,000-square-foot manufacturing and logistics facility in Blackburn, Lancashire. The facility provides a competitive advantage in production costs and customer response times while ensuring high-quality standards, including industry-leading banned substance testing in sports nutrition.
BD-Capital focuses on investments in healthcare, services and consumer sectors where shifting consumer behavior and technological disruption are driving growth.