Dec 14 European industrial equipment supplier
Loxam SAS said it reached an agreement on the terms
of its offer to buy UK's Lavendon Group Plc, valuing the
UK company at about 374 million pounds ($473.52 million).
Loxam, which had made its interest in Lavendon known in late
November, offered 220 pence for each Lavendon share, just shy of
the stock's closing price of 220.50 pence on Tuesday.
Loxam is locked in a bidding war with Belgian industrial
equipment supplier TVH Group NV, which offered 205 pence per
Lavendon share, bringing the potential value of its offer to 348
($1 = 0.7898 pounds)
(Reporting by Vidya L Nathan in Bengaluru, Editing by Sunil