Update: EcoSecurities considering Guanabara revised offer

Irish carbon credit company EcoSecurities said it is considering the terms of the revised offer from Dutch firm Guanabara Holdings Guanabara earlier today upped the ante in its hostile takeover attempt of EcoSecurities with an increased final offer of 90p per share, raising it from 77p. "The board of EcoSecurities is considering the terms of the Revised Offer and awaits the publication of the revised offer document by Guanabara," said EcoSecurities, which added that shareholders take no action in the mean time. The Dutch firm said the offer terms would not be increased. The offer period has been extended until 1:00pm (Dublin time) on 18 September and will not be extended further unless the offer is unconditional as to acceptances by the deadline.Notwithstanding the above, the company reserves the right to amend the offer terms should a competing bid for EcoSecurities emerge.Guanabara has received acceptances in respect of about 25.53% of EcoSecurities' issued share capital. That puts it halfway towards succeeding in its takeover attempt after the company lowered the threshold for the offer to be declared unconditional to 50% from 80%. Eco (atlantic)