Aug 24: Centrica achieves 50% in Venture bid

Centrica says it now has reached the needed 50 per cent mark in its takeover of Venture. Centrica now holds 40.1 per cent of Venture shares, with valid acceptances taking their holding to 50.3 per cent. The Venture management has so far rejected the 845p per share offer, saying that it is too low. Phil Stafford explains why Centrica have pursued the firm for over 5 months.