Dixons has been unveiled as the 'stalking horse' in the Micro Warehouse auction saga. Earlier this year CRN revealed that the reseller's European business was to be auctioned off by New York bank Miller Buckfire Lewis Ying. However, it has since been confirmed to CRN that Dixons has signed a contract to acquire the UK arm of Micro Warehouse.
Nigel Foxwell, managing director of Micro Warehouse, said: "A contract has been signed with Gores Technology Group, a US investment company. "The sales process has yet to go to auction and the bid will be going through the courts in the near future. "The auction is expected to take place in mid-May. If Gores is successful in its bid it has agreed that PC World Business will acquire the Micro Warehouse UK business from it." However, 'stalking horse' status does not guarantee Dixons will definitely secure ownership of Micro Warehouse UK. Because of the open nature of the auction, allowing bids from all interested parties, the retail giant may yet be 'gazumped' by a higher bidder.
Namnews - Wednesday 14th April 2004
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