Skywest takeover suitor CaptiveVision Capital has retained public relations firm Purple Communications to spread its message.
So far Skywest, through its PR consultants Porter Novelli, appears to have been been winning the publicity battle in the takeover war.
Purple director Caroline de Mori sold her stake in Porter Novelli about two years ago to John McGlue, the Porter Novelli partner dealing with the Skywest case.
The battle between the two companies took a turn last week when Skywest announced it had dismissed its chief financial officer, Craig Lovelady, for what it alleged was the leaking of confidential data to CVC director Jeff Chatfield.
The matter has been referred to the Australian Securities and Investments Commission and Skywest’s board is taking legal advice about whether it will refer the matter to the takeovers panel, which has the ability to stop the CVC bid.
Mr Lovelady was previously a director of CVC and has been linked with Mr Chatfield in a number of other business ventures, including Data and Commerce Limited.
Skywest’s investigations have allegedly uncovered several hundred emails that it alleges were sent from Mr Lovelady to Mr Chatfield.
Skywest CEO Scott Henderson denied CVC’s claims that he had given Mr Lovelady permission to send the information and that he had invited the CVC bid and struck its bid price.
CVC maintains, in a press statement dated July 5, that Mr Henderson had welcomed the CVC bid and priced it at 20 cents a share.
According to an independent assessment by PricewaterhouseCoopers, Skywest shares are worth between 20 cents and 29 cents each.
CVC has increased its holding in Skywest to 30.2 per cent of voting shares. Its offer is scheduled to close on July 16.
