It’s time to take a view
Brian Joffe on his plans for Long4Life
The Holdsport deal is part of Joffe’s plan to boost Long4Life’s value to R10bn, even as some shareholders of the specialist retailer dig in their heels
Long4Life, the cash-flush investment company spearheaded by Bidvest founder Brian Joffe and former Famous Brands CEO Kevin Hedderwick, intends quickly growing its market capitalisation to R10bn from its current R2.4bn. Joffe says Long4Life’s aggressive growth plans should be taken into consideration when contemplating the company’s proposed takeover of specialist retailer Holdsport, the owner of Sportsmans Warehouse and Outdoor Warehouse. Long4Life has proposed an offer of 12.1 new shares in Long4Life for each Holdsport share held; or 11.2 Long4Life new shares and 500c/share in cash for each Holdsport share. Long4Life has claimed undertakings of support from 65% of Holdsport shareholders, but a few shareholders in the retailer may be digging in their heels.
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