Faber Prest offer agreed

Faber Prest offer agreed

HARSCO CORP of the US has agreed a 500p a share cash offer for Faber Prest which values the British company at around pounds 55.9m. Faber Prest provides services to the steel industry. The offer represents an 8.1 per cent premium to Faber Prest's share price of 462.5p yesterday, and a 110.5 per cent premium to its share of 237.5p on 5 November, the day before the British company said it was in talks that could lead to an offer. The shares closed yesterday at 494p.