CIP Merchant Capital Ltd - Guernsey-based investment company - Corporation Financiere Europeenne SA raises takeover offer by 9.1% to 60 pence per share from 55p. Says cash offer, worth GBP33.0 million in total, is final. CFE says it raised its offer despite a 16% fall in the FTSE AIM All-Share index since January 13, the day before it made its first offer. CFE, a provider of trade finance and corporate advisory services, either owns or has acceptances for its offer for 36.5% of CIP shares. Long-stop date for offer is April 1. The board of CIP had rejected the 55p offer, saying it was "hostile" and undervalued the company.
Current CIP stock price: 56.00p, down 1.8%
12-month change: up 11%
By Tom Waite; thomaslwaite@alliancenews.com
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