UK's Harworth gets $784 million takeover bid from top investor Peel Holdings
UK's Harworth gets $784 million takeover bid from top investor Peel Holdings Aug 6 (Reuters) - Peel Holdings has offered to buy British land and property regeneration company Harworth Group HWG.L in a deal valuing the London-listed firm at about £582.9 million ($784.41 million), the real estate investor said on Thursday.
Peel Holdings, part of British businessman John Whittaker's Peel Group, is the largest shareholder at Harworth with a nearly 30% stake.
Here are some more details:
Peel Holdings is offering 172.5 pence in cash per Harworth share for the shares it does not already own.
Shares in Harworth were up 21% at 174 pence as of 0708 GMT.
The offer represents a premium of about 20.1% to Harworth's closing share price on August 5.
Peel Holdings said it believes Harworth's assets would be "best owned, managed and developed" under full private ownership.
Harworth owns and manages a portfolio of assets comprising modern industrial and logistics investment properties and land holdings in the North of England and the Midlands.
($1 = 0.7431 pounds)
(Reporting by Neeshita Beura in Bengaluru; Editing by Janane Venkatraman)