Statement re: Put up or shut up deadline
02 March 2010 - 2:23AM
UK Regulatory
TIDMVTG TIDMBAB
RNS Number : 8729H
Takeover Panel
01 March 2010
2010/8
THE TAKEOVER PANEL
VT GROUP PLC ("VT")
BABCOCK INTERNATIONAL GROUP PLC ("BABCOCK")
Following recent representations made by the advisers to VT, the Panel Executive
has been considering the application of Rule 2.4(b) of the Code to the
announcement made by Babcock, on 15 February 2010, in which it confirmed that it
had made an approach to the Board of VT with an indicative proposal and that
this proposal had been rejected. The announcement outlined Babcock's indicative
proposal. Following discussions with both parties' advisers, the Panel Executive
has ruled that, unless the Panel Executive consents otherwise, Babcock must, by
5.00 p.m. on 12 April 2010, either announce a firm intention to make an offer
for VT under Rule 2.5 of the Code or announce that it does not intend to make an
offer for VT. In the event that Babcock announces that it does not intend to
make an offer for VT, Babcock and any person(s) acting in concert with it will,
except with the consent of the Panel Executive, be bound by the restrictions
contained in Rule 2.8 of the Code for six months from the date of such
announcement.
Each of the parties has accepted this ruling.
1 March 2010
This information is provided by RNS
The company news service from the London Stock Exchange
END
STRLLFFEVLILIII
Vt Group (LSE:VTG)
Historical Stock Chart
From Aug 2024 to Sep 2024
Vt Group (LSE:VTG)
Historical Stock Chart
From Sep 2023 to Sep 2024
Real-Time news about VT Group (London Stock Exchange): 0 recent articles
More Vt Group News Articles