Fidelity makes buy-out offer for Colt
Colt's largest shareholder Fidelity Investments has made an offer to take the European carrier private. However, Colt's independent shareholders said the bid of 190 pence per share undervalues the group, and a sale to a third party could achieve a higher price. Colt said the directors' assessment was based on its new business plan, which has been provisionally approved by the board and further details of which will be announced soon. While the independent directors, having been so advised by Barclays, consi