Brigadier Acquisition Company (BAC) which had agreed to acquire Moss Bros for £22.6 million, and had later attempted to extricate itself from the deal, must proceed with the transaction. The ruling from the City Takeover Panel said that BAC should not be permitted to invoke any of the Relevant Conditions in relation to its acquisition of Moss Bros. BAC had agreed to buy Moss Bros for 22p a share on March 12th in a deal which would take the menswear specialist private.
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