The un-named company who are interested in buying marine electronics specialist Raymarine have said that they will only proceed with their proposed buy out if Raymarine goes into administration.
Raymarine announced that the un-named company 'would be willing to enter into a transaction with the administrator to acquire Raymarine Holdings Limited for a consideration that is likely to equate to approximately 17.5 pence per share (before administration costs) in providing for the repayment of the Raymarine group's banking facilities'
The Raymarine board are currently believed to be in talks with it's banks to try to resolve the situation, with any deal needing to be finalised today.
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