TVH lowers Lavendon buy-out conditions
12 December 2016
TVH Group has announced that the German competition authority Bundeskartellamt has unconditionally cleared its potential acquisition of Lavendon Group.
In addition, TVH has lowered its acceptance offer under which the acquisition could take place. It said it would now accept 50%, plus one share, down from its original condition of 75%.
Lavendon responded by stating that its board is in ongoing discussions with Loxam regarding its possible cash offer for the group. as a result, Lavendon continues to advise its shareholders to take no action with regard to TVH's offer at this stage.
The Lavendon Group board said it would formally respond to the offer on Wednesday 14 December.