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Bid for Port Vale

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A takeover offer for relegated Port Vale has been made by the owners of Burslem-based IT company Synectics Solutions. The company has an annual turnover of £13m and its headquarters are near Vale Park.

The offer is for £1.25m which is the amount owner Norman Smurthwaite paid with his then business partner when taking the club out of administration in 2012.  However, he claims to have ploughed in £3.7m since then.

He wants to sell, but claims that two hedge funds from the US are also interested.