Takeovers 

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.  

To continue reading, subscribe today

and enjoy unlimited access to the following:

  • Tips of the Week
  • Funds coverage
  • Weekly features on big investment themes
  • Trading ideas
  • Comprehensive companies coverage
  • Economic analysis
Subscribe
Subscribe to Investors Chronicle

Subscribe today

Full access for just £3.37 a week:

• Tips and recommendations - to beat the market 
• Portfolio clinic & Mr Bearbull - build a well-planned portfolio 
• Expert tools - track and manage investments effortlessly
• Plus free delivery to your home or office

Subscribe Now