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November 29, 1998

ILION ISSUES NEW PROFITS WARNING AS BID HOPES FADE

By CBR Staff Writer

Networking and Unix products distributor Ilion Plc has issued a profits warning – for the second year running it has warned investors that profits will be materially below expectations. Shares in the UK-based company had raced up 50% earlier this week on speculation that it was about to be taken over by a US outfit. Ilion admits that it has received approaches but is now currently in talks with any potential offerer. While sales in Europe continue to perform well, the company has been hit by lower sales and profitability in the UK, where it has long been engaged in a battle with rival Azlan Group Plc. Both companies have long been tipped as takeover targets by big US distributors.

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