My Yahoo!Veolia in agreed 9.7 mln stg bid for UK bus company Dunn-Line
03.08.2006, 02:44 AM
|
|  |
|
|
The French utility group said it will pay 4 pence for each existing Dunn-Line share and bonus share. It said the offer represents a premium of 10.3 pct over yesterday's closing price of 3.625 pence and a premium of 26.8 pct over Dunn-Line's 12-month average share price.
Veolia said it has received irrevocable undertakings to accept the offer from shareholders representing 66.5 pct of Dunn-Line's shares. It said the acceptances will remain binding even if another bidder makes a higher offer for Dunn-Line.
Dunn-Line chief executive Bob Dunn said: 'Whilst we have not sought an offer for the Company, we nevertheless believe that the Offer from Veolia represents a fair price and one that we recommend that shareholders should accept.'
Dunn-Line this morning reported full year to November pretax profit of 1.5 mln stg, up from 735,000. Turnover from continuing operations rose 18 pct to 13.8 mln stg. It declared a dividend of 0.1 pence per ordinary share, up from nil in 2004.
newsdesk@afxnews.com
jm
COPYRIGHT
Copyright AFX News Limited 2005. All rights reserved.
The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
Neither the Subscriber nor AFX News warrants the completeness or accuracy of the Service or the suitability of the Service as a trading aid and neither accepts any liability for losses howsoever incurred. The content on this site, including news, quotes, data and other information, is provided by AFX News and its third party content providers for your personal information only, and neither AFX News nor its third party content providers shall be liable for any errors, inaccuracies or delays in content, or for any actions taken in reliance thereon.
 |
||
| 1 of 1
| ||
Subscriptions >
| Free Trial Issue of Forbes | Forbes Gift Subscription | ||
| Subscribe To Newsletters | Subscriber Customer Service | ||
| Buy Audio Version of Forbes |
| Trading Center |
|
|||||||||
| CEO Book Club | more > |
The Philosopher Kings Of HedgingSteven Drobny reveals insights from the hedge fund all-stars. |
||
Laissez Faire In The StudioAt Columbia Records, John Hammond made some of the greatest discoveries in American music. |
||
| Advanced Search | New & Notable | ||
|
|
|
