A proposed management buyout of the Irish Continental Group (ICG) is likely to fail, as shareholders prepare to vote on the €8 per share offer next week. The outcome of the Extraordinary General Meeting (EGM) is anticipated to reject the bid, effectively ending the buyout attempt. Details surrounding the reasons for the predicted rejection haven’t been released, but the current offer appears unattractive to a significant portion of ICG’s investor base. This setback casts uncertainty over the future ownership and strategic direction of the Irish maritime and travel group. ICG is a significant player in ferry travel between Ireland and France, and also operates a portfolio of properties. The failed buyout could lead to alternative strategies, including seeking other investors or maintaining the status quo. The shareholder vote will be closely watched by industry observers.