Lavendon, which trades in the UK as Nationwide Platforms, will now delist from the London Stock Exchange. Cancellation is expected to take effect at or shortly after 8am on 15th March 2017.
Loxam’s acquisition of Lavendon followed rival bidding against TVH of Belgium. TVH launched a hostile takeover bid in November 2016, offering shareholders 205 pence per share. It was not until Loxam’s offer reached 270 pence per share on 18th January that TVH gave up.
The Lavendon board supported Loxam’s bid all the way, in preference to TVH.
Lavendon shareholders who have not accepted Loxam’s offer are now urged to do so as soon as possible, said Loxam president Gérard Déprez.
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