Statement re Possible Offer
April 14 2005 - 3:01AM
UK Regulatory
RNS Number:0345L
Apax Partners Worldwide LLP
13 April 2005
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN, INTO OR FROM AUSTRALIA, CANADA,
JAPAN OR THE UNITED STATES
April 13, 2005
APAX PARTNERS WORLDWIDE LLP ("APAX")
WITHDRAWAL OF POSSIBLE OFFER FOR WOOLWORTHS GROUP PLC ("WOOLWORTHS")
On March 18, 2005 Woolworths and Apax announced that funds advised by Apax were
considering a possible offer for Woolworths at 58.2 pence per share in cash.
Subsequently, with cooperation from Woolworths, Apax undertook intensive
commercial due diligence. In the course of this due diligence, Apax has been
unable to confirm certain key cash items and has decided that it will not
proceed* with an offer to acquire Woolworths.
*For the purposes of Rule 2.8 of the City Code on Takeovers and Mergers, Apax
reserves the right to make or participate in an offer within the next six months
in the event that the Board of Woolworths agrees to recommend such an offer or a
third party announces a firm intention to make an offer for Woolworths.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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