Schroeder Investment Management, one of Alfred McAlpine’s major shareholders, has announced today that it approves of Carillion’s take-over offer of 570p a share.
The latest development puts added pressure on Alfred McAlpine’s chief executive Ian Grice to enter talks with Carillion, having so far spurned the company’s advances.
An offer of 560p was apparently received back in August, of which news has only just leaked out.
Schroeder made an announcement this morning, saying that it “announces that it has sent a non-binding letter of intent to Carillion plc to accept, if made, a possible offer by Carillion at a value of 570 pence for each McAlpine share”.
The offer covers the eleven million McAlpine shares that are in Schroeder’s possession, and represent 10.3 percent of McAlpine’s total issued shares.
October 19, 2007
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Alfred McAlpine
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