12.01.2011

Put up Or …..

London’ Takeover Panel has ruled that TVH must either commit to making a firm offer for Lavendon by the close of business on February 8th or announce that it is dropping the idea.

The ruling follows TVH’s announcement on December 3rd that it had made two approaches to Lavendon regarding a bid worth up to 111p per share. Both were rejected as seriously undervaluing the business.

Since then all has been quiet. If TVH decides not to pursue a formal offer it will, along with any collaborators, be prohibited from making another approach for at least six months.
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Lavendon is Europe’s largest aerial lift rental company with over 21,000 units in its fleet operating from subsidiaries in the UK, Belgium, France, Germany, Spain and the Middle East.