Cain Hoy extinguish interest in a deal to control Spurs boardroom
NEWLY-ESTABLISHED American private investment firm Cain Hoy Enterprises has formally declared the company has no further intention of exploring the possibility of purchasing Tottenham Hotspur.
Cain Hoy Enterprises had announced its interest in a possible takeover earlier this month and had until 10 October to state whether a formal offer was to be made.
The company now faces a six-month restriction, in accordance with the City Code on Takeovers and Mergers, before any renewed interest can be manifested with an offer.
“On 12 September, having previously approached Tottenham Hotspur with a proposal, Cain Hoy Enterprises confirmed that it was at the preliminary stages of assessing a cash offer for Tottenham Hotspur,” read a statement released to the London Stock Exchange.
“Cain Hoy has subsequently terminated its assessment and accordingly is no longer considering making an offer for Tottenham Hotspur.”
Belgium defender Jan Vertonghen, meanwhile, has opted against signing a new deal at Tottenham after holding talks with the White Hart Lane hierarchy.
The 27-year-old still has four years remaining on his existing deal but was dropped from the Spurs line-up for the clashes with Sunderland and West Brom.
“I am not signing,” said Vertonghen. “We agreed not to and I would prefer not to say why. I am very happy at the club and I think they are happy with me. That’s where it ends.”