Lowe Bell Financial has been called in to handle PR for a consortium of
City investors on its threatened pounds 1.2 billion takeover of retailer
and football pools giant Littlewoods.
The consortium, which is being led by Littlewoods’ former chief
executive Barry Dale, hired Lowe Bell last week in a bid to counter a PR
offensive mounted by the normally tight-lipped Moores family, which owns
the firm.
Lowe Bell group managing director Piers Pottinger confirmed the agency
had been appointed to handle communications during the consortium’s
dealings with Littlewoods but declined to comment on fees. ‘We are
acting for the consortium which may or may not be making an offer for
Littlewoods,’ he said. ‘We are part of the team and are giving strategic
advice on how to manage communications. There is first class blue chip
funding from the consortium.’
The Moores family is due to hold an emergency general meeting later this
year, probably in December, to discuss the consortium’s proposal.
Barry Dale, who was fired by Littlewoods in March for an alleged breach
of fiduciary duty has lined up an impressive list of venture capital
backers for his offer, including Prudential, Electra and Legal &
General.
Littlewoods has three retained agencies: Burson-Marsteller for corporate
positioning, Brunswick for financial work and lobbyist Westminster
Communications.
