pounds 684m Gehe bid could clinch Lloyds battle
Saturday 11 January 1997
The bidder moved into the market to scoop up just under 21 per cent of Lloyds' shares soon after the announcement that the offer was being raised from 500p to 525p a share and made final.
The move comes a week before the final deadline for higher offers, but Dieter Kammerer, Gehe chairman, said the delay was damaging the business. Since the start of the bid last January, Gehe estimated the value of Lloyds had declined by around 10 per cent. Adding that back to the revised terms, would value them at more like 560p to 570p a share, he claimed. There was no word from rival bidder UniChem yesterday but analysts said it would be difficult for it to top Gehe's terms.
Shares in Lloyds jumped 14p to 526.5p, but UniChem's were also 10p higher at 256p on expectations that it would not increase its offer. If UniChem does bow out, directors could make pounds 4.3m in option profits and pay-offs, while the stake belonging to Allen Lloyd, chairman, could be worth pounds 32m.
Diving in at the deep end is no excuse for shirking the style stakes
- 2 PornHub begs users to stop uploading video clips of Brazil getting beaten 7-1
- 3 Why I'm on the brink of burning my Israeli passport
- 4 L'Oreal cuts ties with Belgium supporter Axelle Despiegelaere after hunting trip photographs
- 5 The true Gaza back-story that the Israelis aren’t telling this week
Game of Thrones author George RR Martin says 'f*** you' to fans who fear he will die before finishing Westeros saga
Supermoon 2014: When and why will the moon look bigger and brighter this summer?
Gaza-Israel conflict: The terrible price children are paying for Israel’s war with Hamas
Rotten-egg smell of farts could help battle heart disease and Alzheimer's
Online trolls target alleged rape victim Jada, by copying how she appeared in video of attack
Sustained immigration has not harmed Britons' employment, say government advisers
War is war: Why I stand with Israel
7/7 memorial defaced on anniversary of 2005 attacks with ‘Blair lied thousands died’ graffiti
Australia facing international condemnation after turning around Sri Lankans at sea
Even when it brutalises one of its own teenage citizens, America is helpless against Israel
Socialist Worker called to apologise over ‘vile’ article saying Eton schoolboy Horatio Chapple's death is ‘reason to save the polar bears’
iJobs Money & Business
£75000 - £85000 per annum + ex bens: Deerfoot IT Resources Limited: Biztalk Te...
£60000 per annum: Harrington Starr: Trade Desk Specialist (FIX, Linux, Windows...
£35000 per annum: Harrington Starr: Service Desk Analyst (Windows, Active Dire...
£40000 per annum: Harrington Starr: Network Engineer (CCNA, CCNP, Linux, OSPF,...