TVS Offer Increased As Predicted

IFE, the US company bidding for TVS, has increased its offer for the company as predicted this week. To pacify preference shareholders the company will announce an increase in share price to 60p (cash), a rise of 17p. Ordinary shares will stand at 35p.

Whether or not the rebelling party will accept the new offer is a sore point for IFE, who threatened to walk away from the deal if an agreement was not reached. The offer will be considered final today so preference shareholders will be under pressure to announce their decision.