Wednesday 17 January 2018

American investment firm Cain Hoy drop interest in buying Spurs

Cain Hoy is no longer interested in buying Tottenham
Cain Hoy is no longer interested in buying Tottenham

American investment firm Cain Hoy is no longer considering making an offer to buy Tottenham.

The US company announced in a statement to the London Stock Exchange that it had "terminated" its interest in Spurs.

The statement read: "On September 12 2014, having previously approached Tottenham Hotspur with a proposal, Cain Hoy Enterprises, LLC ('Cain Hoy') confirmed that it was at the preliminary stages of assessing a cash offer for Tottenham Hotspur.

"Cain Hoy has subsequently terminated its assessment and accordingly is no longer considering making an offer for Tottenham Hotspur."

Cain Hoy declared its interest earlier this month in a statement made without the consent of Tottenham.

The Premier League club had distanced themselves from the speculation that suggested current owner Joe Lewis was willing to listen to offers of £1billion.

Cain Hoy had until October 10 to indicate whether it will make a formal offer or indicate that its interest in Spurs is at an end, as it did on Thursday.

However, it did leave the prospect of a return for Spurs open.

"As a consequence of this announcement, Cain Hoy will, except with the consent of the takeover panel, be bound by the restrictions on making an offer for Tottenham Hotspur contained in Rule 2.8 of the UK Takeover Code for six months from the date of this announcement.

"However, Cain Hoy reserves the right to make an offer in the circumstances set out in Note 2 of Rule 2.8 of the UK Takeover Code."

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