LONDON (Alliance News) - Belgium's TVH Group NV on Friday made an increased offer for UK-listed equipment rental company Lavendon Group PLC, slightly trumping the offer already on the table from France's Loxam SAS.
TVH offered 251.00 pence per share, a hike to the 230.00p per share it had previously made but which was later topped by Loxam's 250.00p bid.
The new offer values Lavendon at GBP427.0 million and is at an 81% premium to Lavendon's closing share price on November 21, the day prior to the company going into an offer period.
Lavendon shares closed up 0.1% at 257.75p on Friday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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