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BRIEF-Firstrand Ltd announces recommended cash offer for Aldermore Group Plc
November 6, 2017 / 7:27 AM / 19 days ago

BRIEF-Firstrand Ltd announces recommended cash offer for Aldermore Group Plc

Nov 6 (Reuters) - FIRSTRAND LTD:

* FIRSTRAND, ALDERMORE REACHED AGREEMENT ON RECOMMENDED CASH OFFER TO BE MADE BY FIRSTRAND OFFEROR FOR ALDERMORE​

* ‍OFFER VALUES ENTIRE ISSUED AND TO BE ISSUED ORDINARY SHARE CAPITAL OF ALDERMORE AT APPROXIMATELY £1.1 BILLION​

* ‍CONSIDERATION PAYABLE UNDER OFFER WILL BE FUNDED FROM FIRSTRAND GROUP‘S EXISTING CASH RESOURCES​

* ‍ALDERMORE DIRECTORS CONSIDER TERMS OF OFFER TO BE FAIR AND REASONABLE​

* ‍UNDER TERMS OF OFFER, ALDERMORE SHAREHOLDERS SHALL BE ENTITLED TO RECEIVE FOR EACH ORDINARY SHARE 313 PENCE IN CASH​ Source text for Eikon: Further company coverage: (Bangalore.newsroom@thomsonreuters.com)

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