New Laing bid

24 April 2008

Germany-based insurance group Allianz has made a UK£ 957 million (€ 1,43 billion) bid for UK infrastructure investment company John Laing. The board at John Laing has accepted the offer and is withdrawing support for the previous UK£ 887 million (€ 1,32 billion) offer made by investment management company Henderson. Under the offer, Allianz will pay UK£ 3,85 (€ 5,74) per ordinary John Laing Share, an 8,5% premium on the price offered by Henderson. A spokewoman for Allianz said it had received acceptances from shareholders controlling 51,76% of John Laing.

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