Madison's owner gets a new owner

The hostile bid from shell vehicle Lakefield to take over H Young PLC, the owner of Madison, has succeeded. Today, H Young directors advised shareholders to accept the "too low" Lakefield bid because no other bids had been received
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H Young had previously rejected Lakefield's bid, saying it did not reflect the full potential value of the company.

It was Lakefield which shoved a stick in the spokes of the Madison/Leeda MBO.

Madison execs spent a great deal of time and momey on their putative MBO and now that Dr Samann's Lakefield shell company (see bikebiz.co.uk passim) has been successful it will be interesting to see how H Young's new owner views the MBO team (and vice versa).

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