Malpas has offer for Arnotts refused

The directors of Malpas Holdings Ltd today expressed their disappointment with the decision of the Board of Arnotts Holdings Limited to reject their €200m offer for the Company and their decision not to refer it to all shareholders.

The decision is came despite the fact that the offer values Arnotts at between €70m and €100m above the valuation placed on the company by chairman Richard Nesbitt.