(Adds Lavendon response, shares)
Dec 12 Belgian industrial equipment supplier TVH
Group NV said it lowered its acceptance condition for the
proposed 348 million pounds ($438.62 million) acquisition of
UK's Lavendon Group Plc, a provider of aerial work
* TVH Group, which had made its interest in Lavendon known
on Nov. 22, said on Monday that it also received clearance from
German regulatory authorities for the acquisition.
* Lavendon responded to TVH Group's statement asking its
shareholders not to take any action on the TVH offer as it was
still in ongoing discussions with European industrial equipment
supplier Loxam SAS on a possible cash offer.
* Loxam made a takeover approach to rival Lavendon Group
on Nov. 28, setting the scene for a bid battle for the
British firm which has provided aerial work platforms for Harry
* TVH, which had offered 205 pence per Lavendon share, said
on Monday that the terms of its offer had no material change.
Loxam had not disclosed the value of its cash offer.
* TVH lowered its level of acceptance of Lavendon shares to
50 percent plus one Lavendon share, from 75 percent it set
* Lavendon shares were little changed at 224 pence per share
at 0904 GMT on the London Stock Exchange.
($1 = 0.7934 pounds)
(Reporting by Vidya L Nathan in Bengaluru; Editing by Amrutha