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Real Office attracts partial offer at 16p

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    Date: Friday 10 Oct 2008

    LONDON (ShareCast) - Real Office Group, floated in September last year to buy commercial interiors businesses, has received an offer to buy a 74.4% stake in the firm.

    A possible cash partial offer from Leander, which owns two commercial interiors firms CFC and Pacific Interiors, has been pitched at 16p a share.

    The deal values Real Office at about £2.8m, 68% more than last night’s close, although its shares have fallen from 28p at the start of this year.

    It is conditional on receiving acceptances of at least 50% and regulatory clearance.

    “The Leander board believes in the investment strategy of ROG and considers that ROG could be used to further its strategic objectives in the sector,“ according to a statement today.

    Independent directors of Real Office, Lord St John of Bletso, Mark Laurence and Simon Godwin, are considering a unanimous recommendation for the offer, should it be made.

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