27th Jan 2017 15:22
LONDON (Alliance News) - Belgian industrial equipment firm TVH Group NV on Friday said its third increased offer of 261 pence per share for Lavendon Group PLC is "final" and will not be increased.
TVH has been in a bidding war for London-listed equipment rental company Lavendon with French rival Loxam SAS.
Loxam's latest offer for Lavendon came last week at 270p per share, valuing the company at GBP459 million.
TVH's first bid had been at 205p per share back in September, but was rejected by Lavendon before the bidding battle with Loxam ensued.
Shares in Lavendon were trading down 3.3% at 267.56p on Friday afternoon.
By Karolina Kaminska; [email protected]; @KarolinaAllNews
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