Dec 28 European industrial equipment supplier
Loxam SAS raised its offer for UK's Lavendon Group
Plc on Wednesday to 442 million pounds ($542.86
million), in response to an increased bid by Belgian industrial
equipment supplier TVH Group NV.
* Loxam offered 260 pence per Lavendon share, after TVH
Group increased its offer to 251 pence and brought the offer
value to 427 million pounds.
* TVH Group and Loxam have been locked in a bidding war for
Lavendon, which has seen offers increasing from 205 pence per
share, boosting its stock by about 85 percent since Nov. 22,
when TVH first made public its interest in the British firm.
* Both companies are eyeing the British firm's market share
in equipment rental business in the UK and the Middle East.
* Lavendon rebuffed TVH's first offer, citing concerns over
execution risk and potential disruption to its business.
($1 = 0.8142 pounds)
(Reporting by Vidya L Nathan in Bengaluru; Editing by Vyas