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Scapa backs sweetened £412.6m takeover bid from Schweitzer-Mauduit
StockMarketWire.com
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Industrial tapes and wound care group Scapa said it had agreed to a sweetened takeover bid from Schweitzer-Mauduit valuing it at around £412.6 million.
The bid of 215p cash per share was above a previous offer of 210p that some Scapa investors had complained was too low.
Scapa said the 'final' offer price would not be increased, thoughSchweitzer-Mauduit had reserved the right to amend it should a rival bidder for the company emerge.
Scapa said the revised offer represented 'compelling value', given the balance of future opportunities and risks facing the business and limited capital market liquidity resulting in share price volatility.
At 9:03am: (LON:SCPA) Scapa Group PLC share price was 0p at 148.4p
Story provided by StockMarketWire.com
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