UK luxury chocolate maker and retailer Thorntons has confirmed that it is in preliminary takeover discussions with Christopher Burnett, executive chairman of the company.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Thorntons said that, following the approach from Burnett, the company is in talks that may or may not lead to a cash offer being made for Thorntons by a special purpose vehicle at 185p per ordinary share.
The company emphasised that these talks are at an early stage and that this proposal remains subject to a number of pre-conditions, including the commitment of funding for any offer, satisfactory due diligence and a recommendation from the independent directors, all of which must be satisfied before an offer can be made.
