Skip to main content


  • AddRemove
  • Build a Report 
News Releases

Mayer Brown advises Laxey Partners Limited on its proposed offer for distribution company TDG for £203 million

18 July 2008
18 July 2008 - Leading international law firm Mayer Brown is advising investment firm Laxey Partners Limited on its proposed offer for logistics group TDG.

Mayer Brown is also advising Laxey on its proposed offer for The Laxey Investment Trust PLC ("TLIT") by LIT plc, a newly incorporated Isle of Man company formed at the direction of Laxey Partners Limited for the purposes of implementing the acquisitions of TDG and TLIT.

TDG, which runs the supply chain for Argos and J Sainsbury, has agreed to recommend a £203m cash offer. Laxey, which is licensed in the Isle of Man, offered 250p-a-share in cash or, as an alternative, 200p cash plus 6.625 shares in the new acquisition vehicle, LIT.

TDG has more than 7,000 employees and operations in the UK, Ireland, France, Germany, Spain, Holland and Belgium. It had £670m revenues last year. Clients include Argos, J Sainsbury, Marks and Spencer, ICI Paints and Honda. Their UK operation, won a number of awards in 2007 to manage product flows from the Far East, including work for ICI Paints to operate an end-to-end supply chain for paint accessories sourced from China.

Laxey is a global value investor which manages a range of assets and funds for institutional investors, taking a proactive approach to help enhance the value of its investments. Its asset management business comprises the management of listed closed end funds, hedge funds, real estate opportunity funds and private equity investments. As at 31 December 2007, Laxey had net assets under management of approximately US$1.7billion.

For further information:

Charlotte Ward
PR Manager
Mayer Brown, London
+44 (0)20 7782 8547

Related Information

  • Related People
    James Hill
    T +44 20 3130 3227
    Andrew Stanger
    Legal Professional / Consultant
    T +44 20 3130 3934

The Build a Report feature requires the use of cookies to function properly.  Cookies are small text files that are placed on your computer by websites that you visit. They are widely used in order to make websites work, or work more efficiently.  If you do not accept cookies, this function will not work.  For more information please see our Privacy Policy

You have no pages selected. Please select pages to email then resubmit.