Mayflower seals Dennis victory

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The Independent Online
MAYFLOWER, the engineer and bus builder, yesterday won its two-month battle with rival bidder Henlys for control of bus chassis maker Dennis.

Mayflower said its pounds 268.9m cash offer had enabled it to gain a controlling stake in the bus parts maker. The company revealed that it had acquired or received acceptances for a total 50.5 per cent of Dennis shares.

The bitter bidding war was decided earlier this month when the Dennis board switched its recommendation from Henlys' pounds 256m cash-and-paper bid to Mayflower's offer. Mayflower, led by chief executive John Simpson (pictured), is set to combine Dennis with its Alexander division, the UK's largest maker of bus bodies.