Wincanton is not going to press ahead with a proposed takeover offer for TDG after deciding that such a deal would not be in its "best interests". The company had made a cash offer of 281.25p per share for TDG in May, but it has now informed TDG it will not be progressing
with the deal.
"Wincanton has concluded that it is not in the best interests of Wincanton shareholders to proceed with an offer for TDG and has informed the board of TDG of this decision," a company statement said.
Reed Business Information Limited.©2009
