Article: Bid battle breaks out for TLG

TLG, THE lightning company, was yesterday at the centre of a bid battle after Wassall, the mini-conglomerate, launched a pounds 351m cash bid, trumping a pounds 321m agreed offer from Cooper Industries of the US.

Wassall asked the TLG board to withdraw their recommendation for the Cooper bid and back the new offer. The DIY-to-furniture group revealed that it had built up a stake of 25.63 per cent in TLG after buying more than 10 per cent of its shares in a market blitz yesterday.

The offer from ...

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