Harworth holds firm as it rejects increased cash offer from Peel
Property group, Harworth, has today rejected an increased bid put forward by its largest shareholder, Peel.
Earlier this week, Peel added £17m to its takeover bid for the Rotherham-headquartered group, an offer which remained £365m adrift of Harworth's own valuation which approaches £1bn.
Manchester-headquartered Peel's new offer of 177.5p per share is a 5p increase on its first offer tabled last month and now values the group at £599.8m.
But Harworth has argued Peel’s offer significantly undervalues the business, putt... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
