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Tribal in takeover talks again

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Outsourcing specialist and consultancy Tribal has entered another round of takeover talks.

The firm informed the stock market about discussions with an unnamed buyer at the end of last week.

Tribal also announced that, in the light of the bid, chief executive Peter Martin is to stay on into the New Year.

It had been announced in November, following the failure of a takeover bid, that he would stand down in December.

Mike Foster, support services analyst with Fairfax investment bank, said the bidder was “probably private equity” but there had also been rumours that it was Capita.

“It would make some sense for it to be Capita getting more into the education space or possibly one of their global rivals,” he said.

The company’s most recent results, from March this year, showed a £45.6m pre-tax loss in 2009.

The company’s strategy for dealing with its financial difficulties has included a redundancy programme and attempts to sell off non-core business such as Tribal Communications and executive search arm, Tribal Resourcing.

Mr Foster said: “It would be a good thing for the employees of the group to be taken over at this stage.”

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