CCC Computacenter Plc

RNS Number:5079L
Computacenter PLC
1 June 2000


Computacenter seeks to make recommended offer for Compel

The   Board   of   Computacenter  plc   ("Computacenter")
announces  that it has recently approached the  Board  of
Compel  Group plc ("Compel") with a conditional  proposal
to  acquire  the whole of Compel at a price of  275p  per
share  in  cash,  valuing  Compel  at  approximately  #85
million.   The making of an offer at this price  and  the
confirmation of its terms is subject to (i) Computacenter
receiving  certain limited due diligence  information  in
relation   to   Compel   and  such  information   proving
satisfactory to Computacenter; and (ii) Compel's Board of
Directors recommending the offer for acceptance.*

Currently, the Board of Compel has not agreed to  provide
the    due   diligence   information   requested.    This
announcement  is  being made to facilitate  a  more  open
discussion  with Compel's shareholders on the attractions
of Computacenter's proposal.

Mike  Norris,  chief executive of Computacenter  said  "I
continue  to  hope that the Compel Board will  co-operate
with   our  approach.   An  offer  would  provide  Compel
shareholders  with  the  opportunity  to   exit,   at   a
significant  premium to the current share  price  and  in
cash,  from  a  market which is both scale sensitive  and
consolidating".

*   It  should  be noted that Computacenter reserves  the
right  to  waive  either  or both  of  the  preconditions
referred to above and that even if such preconditions are
satisfied  (or  waived) an offer will not necessarily  be
made.


Press enquiries                           

Brunswick                 Jon Coles       020 7404 5959
                          Catriona Booth
                     
HSBC Investment Bank Plc                  020 7336 9000
(Corporate Finance)       David Blake
                          Alastair Moreton
                     
(Corporate Broking)       John Hannaford
                          Ashank Patel


HSBC Investment Bank plc ("HSBC"), which is regulated  in
the   United  Kingdom  by  The  Securities  and   Futures
Authority,  is acting for Computacenter plc  and  no  one
else  in  connection with the matter referred to in  this
announcement and will not be responsible to anyone  other
than  Computacenter  plc  for providing  the  protections
afforded  to customers of HSBC, nor for providing  advice
in   relation  to  the  matter  referred   to   in   this
announcement.


END
MSCUARWRRKRNRRR

Computacenter (LSE:CCC)
Historical Stock Chart
From Jun 2024 to Jul 2024

Computacenter (LSE:CCC)
Historical Stock Chart
From Jul 2023 to Jul 2024