The two potential bidders for TDG - Laxey Partners and Wincanton - have been given until 20 June to make an offer. A statement from the Takeover Panel says each firm must "either announce a firm intention to make an offer for TDG" or "announce that it does not intend to make an offer" by this date.
In February, private equity firm Laxey Partners - which owns about 22% of TDG's issued share capital - made an indicative cash offer of 275p per TDG share. Two weeks ago, Wincanton revealed its
intention to make an indicative cash offer for TDG at 281.25p per ordinary share, or 290p when the dividend of 8.75p is included.
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