The leader of the takeover bid for retailer Arnotts, Richard Nesbitt, has said taking the company off the stock exchange was not the way he would have liked things to turn out.
The takeover bid by the Nesbitt and O'Connor families was forced when the Lehman Brothers-backed Carrgran group swooped last year with a cash offer for the company.
Shareholders received the offer document for the €254m Nesbitt family offer in the post on Friday.
The document indicates the €14 per share offer is partially backed by a €30m loan over 10 years from an anonymous consortium of private investors.
Shareholders have 21 days to decide whether to accept the offer.
