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Article: Bid battle breaks out for TLG
- Article from:
- The Independent (London, England)
- Article date:
- September 11, 1998
CopyrightCopyright 1998 The Independent - London. Provided by ProQuest LLC. (Hide copyright information)
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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 ...