Stanley Gibbons mulls sale option after suitor walks
Stanley Gibbons, the stamp and coin specialist, may put itself up for sale after the suitor that last week approached it pulled out of any deal.
Shares in the firm rocketed on Friday after it announced the approach by private equity firm Disruptive Capital, but slumped today on investor disappointment after the suitor said it was now “not making an offer” for the firm.
Instead, Stanley said it had it begun a strategic review aimed at unlocking “long-term value”, which could include a sale of some or all of the group.
The company said it was now considering all options open to it, adding: “Following a complete overhaul of the board and the executive leadership last year, the company has now been comprehensively restructured.
“During this time the new board has successfully reduced annualised operating costs by over £10 million and announced disposals totalling £6.3m.”