Wyevale offer

HEREFORD-based garden centre chain Wyevale was the subject of a takeover approach that could see it fetch £325m.

The potential offer from Gnome Acquisitions - a bid vehicle set up by private equity firm Cinven - came after the 114-strong chain said in July that it had received a number of expressions of interest.

Gnome said Wyevale's biggest investor, Laxey Partners, had promised it would back a deal with its 27.6 per cent holding, so long as a firm offer is made by December 2 and is worth at least 580p a share - equivalent to £325m.

Laxey Partners failed in its bid to overthrow members of the company's board earlier this year.