Peel raises Harworth cash offer to nearly £600 million
177.5 pence. Peel Pepper raised its cash offer for Harworth Group to that price per share.
The revised bid values the property developer at about £599.77 million. It is 2.9 percent above Peel's August offer of 172.5 pence and 23.6 percent above Harworth's closing price before the offer period began.
Peel said its own cash resources will fund the offer. Rothschild & Co confirmed that the necessary funds are available. Investors who accepted the original offer are deemed to have accepted the revision, while other holders have until 1 p.m. London time on October 25 under the current timetable.
