The SEC filing said:
"[Derby] announced today that it has recently received a bid from certain members of its management (led by Mr. Alan J. Finden-Crofts, the Company's Executive Chairman and a director) to purchase certain assets of the Company. The Company is in the process of considering and evaluating this bid, and is at the same time also exploring other alternatives..."
Finden-Crofts is bidding for the non-Gazelle parts of the business, as the profitable Dutch cycle maker is being sold seperately.
4th June 2001 - Raleigh management buy-out goes public