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Neil Woodford could be set for windfall from AIM-listed tech firm

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14/08/2014
Neil Woodford is line for a rapid windfall from one of his new venture's early investments after Daisy Group said its chief executive was plotting a £500m bid for the company.

The former star fund manager of Invesco Perpetual, (pictured) who recently set up Woodford Investment Management, declared a stake of almost 4% in Daisy Group in May when its shares were 170p.

He stands to collect a swift £2m if the deal, which is a cash offer of 190p a share, is successful, the Telegraph reports.

Daisy Group, which has developed a reputation for being one of the most acquisitive tech businesses in Europe, said its boss, Matthew Riley, was now planning to buy the company itself.

The AIM-listed web and telecoms company said it had received a “preliminary approach” on July 27 from a consortium comprising Mr Riley, Toscafund and Penta Capital.

The company said an independent committee of the board had been formed although the approach was not a firm intention to make an offer.

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