27th Jun 2016 10:54
LONDON (Alliance News) - Canadian engineering consultant WSP Global Inc on Monday said it is "considering its options" after construction consultancy Sweett Group PLC recommended a takeover offer by Dar Group's Currie & Brown Holdings Ltd over WSP's earlier offer.
On Friday, Currie & Brown announced its intention to buy Sweett Group for GBP29 million, following which Sweett Group revealed it was recommending shareholders to accept that offer and withdrew its previous recommendation of WSP's GBP24 million offer which was made in May.
On Monday, WSP said it is considering its options and will issue a further announcement in due course, advising Sweett shareholders to take no action.
Shares in Sweett Group were trading up 24% at 42.79 pence on Monday. Currie & Brown's offer is for 42p per share in cash, compared to WSP's earlier offer of 35p.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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