Eircom receives takeover proposal

Babcock & Brown Capital Limited today confirmed that BCM, in conjunction with the Employee Share Ownership Trust (ESOT), has lodged a joint proposal with the Board of eircom plc. The proposal may or may not result in a joint offer for eircom.

The proposal involves a joint offer by BCM and the ESOT for eircom at an offer price of €2.20 per eircom share plus the payment by eircom of a 5.2 cent per share dividend.