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Countrywide receives all-cash offer of 250p per share
StockMarketWire.com
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Estate agent Countrywide said it had received an indicative takeover approach from Connells Limited in cash at 250p per share. The approach was said to be at an early stage with Connells indicating the offer is conditional on completion of due diligence and the recommendation of the board of Countrywide.
Today's announcement means that the annual general meeting to approve the proposed recapitalisation of the group and an equity raise of around £90 million announced on 22 October has been postponed.
At 9:24am: (LON:CWD) Countrywide Plc share price was +67.3p at 212.3p
Story provided by StockMarketWire.com
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