There’s Christmas cheer for shareholders in Lavendon (LVD), following increased offers from both potential suitors for the equipment hire group.
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French group Loxam SAS and Belgium firm TVH Group NV have been locked in a bidding war since November and both have decided to up the ante. TVH came in first by raising its cash offer to 251p per share, or 1p in advance of Loxam’s agreed offer. But Loxam quickly countered with a new offer worth 260p per share, valuing Lavendon at around £442m.
