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Technology / AI and automation

FERRANTI MANAGERS SEEK TO PUT TOGETHER CONSORTIUM BID FOR MOST OF THE COMPANY

Just before Christmas, a group of seven Ferranti International Plc managers led by director of marketing Phil Burton, announced that it was putting together a consortium bid for much of the company, excluding the manufacturing operations. Ferranti is currently in administrative receivership, and the administrators, from Arthur Andersen & Co, said they welcomed the initiative and would actively encourage the team to negotiate with potential overseas partners. The team ackowledges that it will need heavyweight partners to get the bid off the ground, and does not envisage starting formal negotiations with the administrators before February.

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CBR Staff Writer

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