AGK.L Share Price (AGK)

Perhaps Liontrust have found another buyer in the wings. Even so the current buyer can reduce the 75% super majority to a straight 50.1% majority to get over the line.

https://www.reuters.com/article/us-agrreko-m-a-tdr-capital/aggrekos-takeover-deal-in-doubt-after-liontrust-opposition-sky-news-idUSKBN2C82RX?rpc=401&

the offer doesn't even allow me to break even-does t sound likely there might be a competing offer

March 5 (Reuters) - Equipment rental company Aggreko said on Friday it was recommending a 2.32 billion pound ($3.22 billion) buyout offer from private equity firms TDR Capital LLP and I Squared Capital.

The British company said the offer of 880 pence per share represents a premium of about 39% to its shares' closing price on Feb. 4, a day before the offer was first tabled.

Demand for Aggreko's rental power and loading equipment has dipped due to the coronavirus-driven cancellation of public events, halving the company's annual profit and wiping a quarter of its market value in 2020.

"The Aggreko board believes that the offer ... represents an attractive price in cash that fairly recognises Aggreko's future prospects," Chairman Ken Hanna said.

Under UK takeover rules, the consortium of TDR Capital and I Squared Capital had until March 5 to announce a definite offer for Glasgow, Scotland-based Aggreko.

The private equity firms made the offer for Aggreko, which has a contract to supply power equipment for Tokyo Olympic and Paralympic Games, under a newly formed firm called Albion Acquisitions.

Peel Hunt analysts said they do not foresee a competing or higher offer despite some recent speculation as TDR Capital has "a strong record in this sector."

Think i'll take my profits and run! GLA

Given the oil price is rising , that market like the others is improving which adds to the prospects for greater returns by any purchaser - hopefully something will happen next week. Btw i could not see any reference to the bidder reserving its right to raise its bid which is unusual.