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Apr 26, 2011

Good news for Whyte's Gers bid

Craig Whyte's takeover bid appears to be back on track after he moved closer to winning over the independent committee of the Rangers board.

Whyte, was believed to be on the verge of completing his buy-out last Monday after agreeing a deal with majority shareholder Sir David Murray and main creditor Lloyds Banking Group.

The Scottish tycoon's deal has been in the pipeline since November but hit a stumbling block last week when Rangers chairman Alastair Johnston raised doubts over the offer and revealed plans to explore a plan B, with director Paul Murray believed to be the man fronting a consortium.

However, after meeting with members of the Rangers board, Whyte appears to have taken a major step forward in convincing them about the merits of his bid.

Johnston told BBC Scotland: ''The committee are now much closer to viewing Craig Whyte's bid as the right one for Rangers.''

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