Owls cool takeover reports
01 May 2008 - 14:52:43
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- Owls cool takeover reports
Sheffield Wednesday's board has denied reports that they have received an offer to buy the club.
Several reports have suggested Lancashire-based businessman Geoff Sheard is the head of a consortium that is on the verge of completing a takeover at Hillsborough.
A second group led by former Boston chairman Jon Sotnick is also believed to be interested.
However, the Owls have denied claims that a formal offer has already been tabled.
"The board of Sheffield Wednesday announced on February 29 that it had received an indicative non-binding expression of interest, which may or may not lead to an offer being made for some or all of the shares in the company," read a club statement.
"The board notes recent press comment relating to the imminence of an offer for Sheffield Wednesday and to certain shareholders in the company having agreed to sell their shares to Mr Geoff Sheard, one of the parties referred to in the recent press as a potential offeror for the company.
"The board wishes to confirm that it has not at this time received any offer proposal from any party that is sufficiently clear or developed.
"The board continues to be open to dialogue with any bone fide offeror and to working to develop any acceptable proposal such that it can be presented to the company's shareholders for their consideration."