4th Feb 2015 14:46
LONDON (Alliance News) - Cedar 2015 Ltd, an indirect subsidiary of Steel Partners Holdings LP, Wednesday said its takeover offer for foil and laminates distributor API Group PLC values API at around GBP46 million.
Last month, Cedar 2015 announced a 60 pence a share takeover offer for API's share capital Steel Partners did not already own.
At the time, API said its board would "carefully consider its position" and said it strongly recommends that API shareholders take no action and await further developments.
API shares were trading 1.7% lower Wednesday afternoon at 58.00 pence.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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