Barlo being sold on the cheap, say shareholders
Around 50 people turned up for an extraordinary general meeting yesterday, which was quickly adjourned following a new bid for the company by the Cavan-based businessman Sean Quinn.
But while his offer for the plastics and radiator group was 20% ahead of one by Barlo's managing director Tony Mullins, shareholders said Mr Quinn was still getting the company "cheaply". One small shareholder, Tom Rice, told the two independent directors Niall Carroll and John Farrell that they "were creatures of Mr Mullins" and that the company was not being sold at a fair price. He questioned the independence of the advice they had received.
