THE Blackwell family row is set to simmer on behind closed doors after the postponement of an extraordinary general meeting.

The meeting of the board of Blackwell Publishing, based in Cowley Road, Oxford, was called by Toby Blackwell, 74, the rebel shareholder who wants to sell the company.

His nephew Nigel, who is chairman, wants to wait for two or three years before floating on the stock market.

A simple majority vote could have effectively forced the company to consider offers.

Toby Blackwell also wanted to involve the board of Blackwell Ltd, which runs the bookshops and until now has stayed out of the row. He holds 64 per cent of Blackwell Ltd, which could have the casting vote in the row.

However, the family issued a joint statement saying: "The EGM of Blackwell Publishing has been adjourned by mutual consent, as has the meeting of Blackwell Ltd scheduled for May 9.

"The family shareholders are now engaged in private discuss- ions."

Toby Blackwell had lodged two resolutions. One called for the Blackwell board to enter negotiations with rival publisher Taylor & Francis, which has tabled a £300m takeover bid.

The second resolution would allow Mr Blackwell to be able to appoint three additional directors to the Blackwell Publishing board.

Blackwell Publishing has appointed the investment bank Morgan Stanley to advise on its options. Morgan is due to report to the board by the end of this month.

Toby Blackwell claims he has a small majority of the voting shares. He owns 30.1 per cent himself, while Blackwell Ltd has 9.3 per cent.

He also claims the support of his son James Blackwell, who has a 5.3 per cent stake, and individuals holding a further 7.5 per cent.

His other son, Philip, has 5.3 per cent, but appears to have sided with his cousin Nigel, who has 42 per cent.