Consortium ready to launch ICG bid

IT IS expected that Doyle Group and One51 will announce their intention to make a formal bid for Irish Continental Group later this week.

Banking sources believe a bid is imminent from the consortium which has already said it will offer not less than €20.75 for the shares if it decides to make a formal offer to buy the shipping company.

Last Friday the takeover panel set a deadline of June 13 on a bid for the group which owns and operates Irish Ferries.