Charles Taylor backs higher takeover offer

Charles Taylor backs higher takeover offer

US private equity group Lovell Minnick has increased its takeover offer for Charles Taylor (CTR) in order to fend off a competing bid. The terms of a 315p-a- all-cash acquisition had already been agreed back in September. Now, Lovell Minnick has sweetened the deal to 345p a share, representing a 47 per cent premium to the 235p closing price on the day before the original offer was made. The new offer values Charles Taylor at around £285m.  

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