July 31, 2007
If approved by Amstrad’s other shareholders, the £125m deal will see James Murdoch, son and presumed heir of his father Rupert’s News Corp realm, subsume the pioneering electronic goods supplier into his £12bn media company.
Sir Alan, who through his holding company stands to gain around £35m, said he was looking forward to “continuing to play a part” in the business.
However, he appeared to sound a valedictory note in a BBC interview shortly after the deal was announced. “I turn 60 this year and I have had 40 years of hustling in this business. Now I have to start thinking about my team of loyal staff, many of whom have been with me for many years.”
Amstrad shareholders will receive 150p a share under the offer, which is being formally made by Sky Digital Supplies, a wholly-owned subsidiary of BSkyB.