Plant

Loxam ups bid for Lavendon to £459m

Aaron Morby 8 years ago

French powered access specialist Loxam has raised its bid for Leiscester-based rival Lavendon for the third time.

The French hirer is in a fierce bid war with Belgian rental company TVH Group for control of Lavendon, which owns Nationwide Platforms.

This morning Loxam tabled a fresh bid of 270p per share, valuing Lavendon at £459m.

Lavendon’s shares were trading at 139p on November 21, just before the first bid from TVH for the UK firm was revealed.

TVH Group also issued a statement this morning which said it was considering its options and urging Lavendon Shareholders to take no action in response to the raised offer.

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