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Elis sweetens takeover offer for Berendsen
June 7, 2017 / 6:28 PM / 6 months ago

Elis sweetens takeover offer for Berendsen

(Reuters) - French laundry services group Elis SA (ELIS.PA) sweetened its offer to buy UK peer Berendsen Plc BRSN.L on Wednesday, and the companies said they had agreed in principle on key terms.

    The new offer values Berendsen at 2.2 billion pounds ($2.85 billion) or 1250 pence per share, representing a premium of about 45 percent to the stock’s closing price before Elis first announced its offer last month.

    Berendsen last month rejected a revised, 2 billion pound offer by Elis, saying it did not reflect value being added by a planned expansion.

    Reporting by Sanjeeban Sarkar in Bengaluru; Editing by Sai Sachin Ravikumar

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