Dennis backs Mayflower bid

Tuesday 13 October 1998 23:02 BST

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MAYFLOWER, the engineer, yesterday looked set to win its bitter battle with coach builder Henlys for control of the bus-chassis maker Dennis after its pounds 269m offer was accepted by the board.

The Dennis directors decided to recommend Mayflower's revised cash bid only days after withdrawing their support for a lower offer by Henlys.

Last week Henlys refused to raise its cash-and-paper bid valuing Dennis at around pounds 247m.

The decision by Dennis's board came after the Government yesterday said it would not refer either bid to the Monopolies and Mergers Commission.

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Dennis backs Mayflower bid

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