Construction News

28/11/2016

Loxam Approaches Lavendon Over Possible Takeover

European rental group Loxam has entered the fray concerning the potential takeover of Lavendon Group.

In a statement today, 28 November, Loxam said it has made a "preliminary approach" to Lavendon regarding a possible cash offer.

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"Discussions with Lavendon are ongoing and there can be no certainty that any offer will be made, nor as to the terms of any such offer," the Group said.

"Loxam urges Lavendon shareholders not to take any action in support of the offer announced by TVH Group N.V. on 22 November 2016."

Belgium-based TVH made a £348 million takeover bid for Lavendon last week. However, after initially welcoming the offer, Lavendon's Board eventually rejected the proposal.

(LM/MH)

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