ITPA rejects offer from rival and presses on with Experian

The Irish Trade Protection Association (ITPA) has rejected a conditional offer from rival Dun & Bradstreet, publisher of Stubbs Gazette. Instead it is pressing ahead with its recommendation of an offer from Experian, a British credit agency company, despite opposition from the president of the ITPA. The postponed extraordinary general meeting to discuss that offer to purchase the ITPA has been reconvened for April 27th. A spokesman for Experian told The Irish Times that his company has already got a significant business in Ireland and that this has been growing. Experian has been talking to the ITPA for two years.

The ITPA president, Mr Paul Mackay, had obtained a temporary order stopping the original e.g.m. He said the ITPA's 2,300 members had not been fully informed of other offers from interested parties. The British company had offered to buy ITPA's business for £480,000. Mr Mackay said that an alternative offer had come from Dun & Bradstreet and that five different parties, including Experian, had shown an interest. He alleged that ITPA's general committee had shown a "blind determination" to push through the Experian contract, regardless of other options. In an affidavit, ITPA's vice-president, Mr Frank Nowlan, noted that a committee vote of no confidence in Mr Mackay had occurred, because his position had become untenable. This was because he had earlier supported and proposed the Experian offer and was now opposing it. Mr Nowlan is to chair the next e.g.m.

The ITPA letter calling that meeting gives details of the other approaches. It noted Dun & Bradstreet's statement that its bid exceeded Experian's by £120,000. However, the letter said Dun & Bradstreet was not "familiar with the details of the agreement with Experian or of the assets or liabilities being taken over by Experian".

The letter also noted that it was unlikely that the alliance with Dun & Bradstreet would be supported by the general committee and that there may also be considerations under competition legislation. The ITPA employees "would also be concerned about their position in the longer term".

Others to express interest were Interface Business Systems (IBS) and Private Research. IBS is owned by French & Associates, the credit management company, the Insurance Corporation of Ireland and COFACE of France. Private Research publishes the Private Research journal.

Since the adjournment of the e.g.m., further approaches were received from Inter-Company Comparisons and the Irish Small and Medium Enterprise Association (ISME). Both were interested in a strategic alliance.