A LEADING waste company has claimed before the High Court that five senior managers who left the company on the same day this month are conspiring with One Fifty One plc to effect a hostile takeover.

Shares in shipping, transport and leisure group Irish Continental Group have fallen by 23c in morning trade today to €20.65 after the company announced that it has opened its books to a consortium hopeful of making a takeover bid.

Shipping, transport and leisure group Irish Continental (ICG) has opened its books to a consortium comprising Cork-based shipping company Doyle Group Ltd and One Fifty One plc with a view to a possible takeover.

The Doyle Group and One Fifty One Capital Limited, a subsidiary of One Fifty One plc, have announced that they are negotiating to buy ferries group Irish Continental.