A hostile bid for Bradford firm British Mohair Holdings has won the day despite opposition from the company.
Dutch private investment firm Browallia has taken control of the company after buying out the shares of bid rival Camellia for 163p each. It now has 59.3 per cent stake in the firm.
This comes weeks after British Mohair's board told its shareholders they preferred the bid from Camellia in an attempt to stop the take-over by Browallia.
The company, which has its headquarters in Midland Mills, Valley Road, Bradford, accepted a £21.2 million offer from Camellia last month but Browallia has ended up with the firm because it made an offer of £21.6 million.
British Mohair Holdings runs textiles, engineering and packaging firms. Its textile firms have struggled for some time and have caused the firm to report losses for years.
The company shed 180 jobs last year and has since disposed of its Jarol Mill in Bradford and Grove Mills in Keighley.
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