ICG bidders line up meeting

BOTH sides fighting for control of ICG (Irish Continental Group) meet this week in an attempt to end the bid deadlock for the car ferries group.

Each has tabled a €22 per share offer and both have sufficient shares to block the other’s takeover attempt.

Top management in the group led by Eamonn Rothwell initiated the buy out process in early March when it offered €18.50 a share through its takeover vehicle Aella.