Buyout bid row at Barlo AGM

BARLO’S management faced a barrage of criticism at the plastics and radiators company’s annual meeting yesterday, with the possibility of an impending management buyout vexing shareholders.

The recent approach from managing director Tony Mullins to take the company private has raised the ire of analysts and shareholders alike. Made public two weeks ago after fluctuations in the share price, his 30c per share offer was termed 'derisory', 'insulting' and 'opportunistic' yesterday.

Chairman Niall Carroll said the board was constrained by stock exchange rules and that he could not elaborate on any details of the approach, which may or may not lead to an offer.