Clondalkin MBO succeeds

Edgemead, the vehicle used by the management buyout (MBO) consortium, has confirmed that its €385 million (£303 million) bid for Clondalkin, the paper and print company, has been declared unconditional. This follows the receipt of acceptances from shareholders representing 85.8 per cent of the equity. Edgemead can choose to acquire compulsorily the outstanding shares, once the deal has been approved by the regulatory bodies.