Weir issues bid deadline reminder
Scottish engineering group Weir is nervously awaiting the outcome of the Review Panel of the Australian Takeovers Panel regarding the bid battle for Ludowici, and has reminded the Aussie mining equipment supplier's shareholders that its offer will remain open for acceptance until six hours past the publication of the Panel's verdict.
Scottish engineering group Weir is nervously awaiting the outcome of the Review Panel of the Australian Takeovers Panel regarding the bid battle for Ludowici, and has reminded the Aussie mining equipment supplier's shareholders that its offer will remain open for acceptance until six hours past the publication of the Panel's verdict.
Weir recently went formal with its offer, matching an increased A$11 a share offer for Ludowici by Danish rival FLSmidth.
Weir cried foul when the Danish outfit increased the offer as it had previously indicated that its first offer was final and would not be increased.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The Takeovers Panel has been given the task of sorting out the mess and determining whether the improved FLSmidth bid can proceed.
jh
-
FTSE 100 hits record highs – why is it rising and will we see more gains?
Advice UK equities have been described as unloved for a long time but as the FTSE 100 hits new highs, we explain if now is the time to buy British.
By Marc Shoffman Published
-
How to invest in copper
It may be time to invest in copper as the red metal appears poised for a big jump. Dominic Frisby looks at what should investors should buy
By Dominic Frisby Published