Cannon primed to take control of Eldridge Pope

15 October 2004 by
Cannon primed to take control of Eldridge Pope

Entrepreneur Michael Cannon has cleared the final hurdle in his attempt to take over pub group Eldridge Pope.

Cannon's offer was today declared wholly unconditional after he gained control of nearly 90% of the company's shares.

Cannon made his 171p-a-share offer last month, valuing Eldridge Pope at more than £43m.

He now intends to get the company taken off the London stock exchange.

Cannon said: "We are delighted at the response to the offer.

"We look forward to getting started immediately on investing in the estate and building the profitability of the business."

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