Pictured: Blair Jenkins
By Ian Reynolds-Young
Uvenco UK, the joint venture business between Glimmer Europe and Uvenco Russia (eastern Europe’s largest operator of vending machines), has confirmed today (24 Jan), that SnackTime is just one of its potential acquisition targets. Blair Jenkins, Uvenco UKs Chairman and CEO was, as readers will be aware, SnackTime’s founder and CEO from its inception in September 2001 until May 2012.
Mr Jenkins had wanted to keep the negotiations under wraps at this ‘early stage’, but that desire was thwarted by unusual movements in SnackTime’s share price on Wednesday. The value of shares rose by around one third, in brisk trading, which led to the Takeover Panel’s requirement that SnackTime made a public announcement regarding potential suitors.
SnackTime duly revealed the nature of its discussions with Uvenco UK.
‘We prefer to keep our acquisition discussions with target companies ‘private and confidential’.’ Blair Jenkins
Uvenco UK has responded guardedly. Blair Jenkins told PV: ‘ Discussions are at an early stage with SnackTime and we have yet to fully evaluate the commercial viability of the project. ‘We prefer to keep our acquisition discussions with target companies ‘private and confidential’ and well away from public view. Regrettably, in the case of SnackTime, there was specualtion on share dealing blogs on Wednesday’, (as PV reported here), ‘which meant that SnackTime and the Takeover Panel had to act in the interests of an orderly market and therefore make our takeover discussions public knowledge. We respect this decision.’
It’s interesting that the release states the SnackTime as one of its potential targets. At PV, we’re wondering: ‘is there more to come?’
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