Maintel has rebuffed a potential takeover approach from Daisy, according to an email sent to Maintel staff and seen by UC Today.
Rumours of an offer from Daisy surfaced last week, but Ioan MacRae, CEO at Maintel, has told employees that “the board rejected the approach”.
He said in an email sent to staff today (25 January): “As a public company, Maintel will always be open to approaches from third parties.
“While it is testament to the good work we are doing that a company like Daisy would want to acquire us – we believe that we are in a great position to build on the turnaround we achieved in the last year and return to growth”
Daisy and Maintel had not responded to UC Today’s approaches for comment at the time of publication. Daisy Intermediate Holdings Ltd had said elsewhere that it “does not intend to make an offer for Maintel”.
The story was first reported by Sky News which claimed that Daisy was proposing a bid of 450p per share, valuing Maintel at nearly £70m, citing sources in the City. Maintel’s market capitalisation currently stands at £59m.
Daisy has been going through a period of transition, with different parts of the business spun out into separate arms back in 2019.
Digital Wholesale Solutions (DWS) was recently valued at £1bn following investment from a private equity firm, having acquired Giacom last year.
Daisy also retains ownership of services outfit Allvotec.
