Loxam in cash offer talks with Lavendon

Loxam has made a preliminary approach to Lavendon regarding a possible cash offer to buy the company.

The approach follows TVH’s bid to buy Lavendon last week, at a price of 205 p per share, which has so far failed to gain enough support from Lavendon’s shareholders.

Loxam, which is Europe’s largest rental company, said it was in discussions with Lavendon but that there was no certainty that any offer will be made. It also urged Lavendon shareholders not to support the TVH offer.

In its initial offer, TVH said it would not increase its offer price unless a third party made an offer for Lavendon.

Last week, Loxam announced that it was pursuing acquisition talks with Hune, Spain's second largest rental company.