Strategy & Operations » Leadership & Management » Printers give the thumbs down to European Colour deal

Picture the scene. You’re a finance director to a smallish company involved in a takeover. Long hours, intense secrecy and endless meetings with vendors, accountants and merchant bankers – and that’s all before going through the regulatory hoops with the Stock Exchange et al. The last thing you need is a few handy spelling mistakes in the offer document.

Imagine the horror at pigments manufacturer European Colour when FD Nick Hawkins got the first draft of an acquisition agreement back from the printers. Among all the usual endorsements and approvals was the admission that EC’s #13m purchase of Tor Coatings had got the thumbs up from the Securities and Failures Association.