The One 51/Doyle group consortium which are looking to take over Irish Contential Group said today they are almost finished examining the books of the ferry company.
The consortium, which owns 20.5% of ICG's equity , said discussions are continuing with the independent directors (of ICG) in order to progress its possible offer for ICG for 'not less than €20.75 per share'.
This is the highest price at which the two shipping companies bought ICG shares, and under ISEQ rules they will have to offer the remaining shareholders at least this amount.
The consortium said a further announcement will be made in due course.
Their move followed an offer earlier this year from a management team led by chief executive Eamonn Rothwell.
The MBO team led by Mr Rothwell lodged a bid for ICG on 8th March offering €18.50 a share through a firm called Aella. The €471m bid is backed by AIB.
