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.
- 1 End of the licence fee: BBC to back radical overhaul of how it is funded
- 2 This restaurant has misunderstood the concept of 'cheese and biscuits'
- 3 Raif Badawi, the Saudi Arabian blogger sentenced to 1,000 lashes, may now face death penalty
- 4 Delhi bus rapist blames dead victim for attack because 'girls are responsible for rape'
- 5 PornHub turns masturbation into energy in bid to save the planet
New theory could prove how life began and disprove God
This is what it's like to be dead, according to a guy who died for a bit
End of the licence fee: BBC to back radical overhaul of how it is funded
'Jihadi John': CAGE representative storms off Sky News accusing Kay Burley of Islamophobia
Ukip would cut billions from Scottish budget to fund English tax cuts
Nearly 100,000 of Britain's poorest children go hungry after parents' benefits are cut
iJobs Money & Business
£25000 - £30000 per annum + benefits: Ashdown Group: A global leader operating...
£15000 - £16000 per annum: Recruitment Genius: A Customer Service Advisor is r...
£22000 per annum + pension,bonus,career progression: Ashdown Group: An establi...
£40000 - £50000 per annum + pro rata: SThree: SThree Group have been well esta...