Cobra shareholders accept £7.3m offer

The entrance to the London Stock Exchange

The news announced to the London Stock Exchange follows the bid by Alto - a company formed by Cobra chief executive Steve Burrows - of £7.3m for the entire shareholding of Cobra made on 29 June.

The statement noted that the offer, dated and posted to Cobra shareholders on 3 July, had become unconditional in all respects.

The statement read: "The offer will remain open for acceptances until further notice and remains subject to the terms set out in the offer document. At least 14 days notice will

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