Investor's Champion Blog
Provides refreshingly forthright, independent comment on predominantly small cap companies and specialist investment funds. Informed opinion, based on first-hand research, but pulls no punches in exposing management weaknesses.

Dobbies – it’s actually happened!

So after months of speculation and a soaring share price a buyer has actually come out of the shadows and made a bid for Dobbies, the garden centre group.

According to the retail specialists Seymour Pearce their trade sources are suggesting that the bid approach was not from the obvious suspect, West Coast Capital, Tom Hunter’s vehicle, but probably from a VC and possibly Apax.

However Seymour’s points out that Hunter (West Coast Capital) has a 10.6% stake and this is enough to prevent a compulsory acquisition of shares if he so wishes.

So there are now two possible scenarios. First Hunter forces the predator to pay through the nose, or, secondly, he blocks the take-over.

I just can’t see Hunter giving up now he has the prey in his sights. I am sure he has grown quite attached to Dobbies over the last few months!

I for one will miss little Dobbies when it leaves AIM.


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