Aschcroft boosts Services stake
12 April 2012
FORMER Tory Party treasurer Lord Ashcroft is hovering over the scene of one of his corporate setbacks. He bought a further 2.4m shares in Corporate Services, the recruitment group which owns Blue Arrow, taking his stake to 6.3%. CS is on alert.
Ashcroft attempted a takeover in 1999 and then failed to trigger a board shake-up. CS shares, once 254p, are now 22 1/2p. The firm is worth £56m, but has debts of £165m .
It is unlikely Ashcroft is considering a takeover. It is more likely he hopes to profit by selling his stake to a bidder.
