Oglesby & Butler MBO talks break down

Electronic tool manufacturer Oglesby & Butler has announced that discussions in relation to a proposed management buyout have broken down.

The company said directors Peter and Paul Oglesby and a board sub-committee of independent directors were unlikely to reach agreement on an acceptable proposal.

The MBO had been called into question in August when news emerged that cinema operator Kevin Anderson had increased his stake in the company to almost 17%.