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Marshalls PLC - Elland, West Yorkshire-based landscaping products - Receives acceptances from existing shareholders for 27% of the new shares on offer as part of the open offer portion of its equity raise. The £187 million total capital raise, which also included a share placing to institutional investors, was conducted at 650 pence per share. It is to raise funds to go toward the £535 million acquisition of pitched roof system manufacturer Marley Group PLC. General meeting of shareholders held on Thursday approves conditional portion of share placing.
‘We are delighted that shareholders have approved the acquisition of Marley and would like to thank them for their support,’ says Chief Executive Officer Martyn Coffey. ‘Marley is a compelling strategic fit, which we identified as the 'Marshalls of roofing', with much in common across our businesses.’
Current stock price: 605.50p
12-month change: down 18%
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