Construction News

15/02/2017

Loxam Secures Acquisition Of Lavendon

Loxam has completed its acquisition of Leicestershire-based power accessed specialist Lavendon.

The French firm, which has secured a 75% ownership stake in the company, said it will delist Lavendon from the London Stock Exchange, which is expected to take place next month.

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Loxam had previously been locked in a bidding war for the UK company, with rival Belgian firm launching a hostile takeover bid in November last year.

However, the Lavendon board remained unanimous in its backing for Loxam throughout the battle.

(LM/MH)

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