VT delays Mouchel bid amid debt uncertainty

摘要

Engineering firm VT Group has put its attempted takeover of Mouchel Group on ice until there is greater clarity surrounding the latter's debt position, sources close to the bid have revealed, writes Tom Bill.rnThe sources say VT is waiting for clarification over whether Mouchel will stay within its ￡190m credit facility. Any move by VT would follow its offer of 260p per share in December, which valued the company at ￡276m. Mouchel rebuffed that, allegedly seeking 300p.