October 20, 2014 / 6:16 AM / 3 years ago

BRIEF-Daisy Group agrees on deal with CEO led consortium

Oct 20 (Reuters) - Daisy Group Plc

* Have reached agreement on terms of a recommended cash offer

* Chain Bidco Plc, a newly incorporated company owned (indirectly) by consortium, will acquire entire issued and to be issued share capital of Daisy not already owned

* Daisy shareholders will be entitled to receive 185 pence in cash for each daisy share held

* Offer values entire issued and to be issued share capital of daisy at approximately 494 million stg

* Offer implies an enterprise value multiple of approximately 11.0 times daisy's adjusted ebitda of 57.9 million stg for 12 months ended 31 March 2014

* Independent directors intend to recommend unanimously that daisy shareholders accept offer Source text for Eikon: Further company coverage:

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