Granada Extends Bid By Two Weeks

Granada has extended its hostile offer for LWT for a further two weeks, as expected. (Newsline 29/12)

Yesterday was the original closing date and acceptances added only 2.39m shares or 2.31% to those already held by Granada, taking the new total to 19.82% The new deadline is January 12.

Sir Christopher Bland, chairman of LWT, said of the level of acceptances, “I am not even going to use the word derisory”. LWT is expected to announce a profit estimate on 14 January.