Granada has extended the deadline on its offer for LWT for another two weeks as the takeover bid is examined by the Office of Fair Trading and the MMC.
Granada says that it has received acceptances from shareholders representing 2.72% of LWT. Granada already owned 17.5% of LWT, so that means it effectively now has 20.23%.
In a letter to shareholders of LWT today, Granada chairman Alex Bernstein said that “the strategic logic for accepting our offer is flawless and the terms are generous.”
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