Hunter chooses Wyevale bid team

Sir Tom Hunter has finalised his advisory team for a bid for UK garden centre operator Wyevale. Sources confirmed that PricewaterhouseCoopers was expected to be appointed as financial adviser and that McGrigors, the Scottish law firm, had been appointed to advise on the bid.

Hunter is to make a further acquisition of a 13.6% stake in Wyevale from Laxey Partners after investing 555p a share for a 15% stake in the company last week. The deal was made through his private equity operation, West Coast Capital.

Due diligence is now being conducted on Wyevale. A formal offer is expected within the next six weeks. Analysts suggested that Hunter will bid 600p a share, valuing Wyevale at £336m (US$590m).