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Elis sweetens takeover offer for Berendsen

Published 07/06/2017, 19:54
Updated 07/06/2017, 20:00
© Reuters.  Elis sweetens takeover offer for Berendsen

(Reuters) - French laundry services group Elis SA (PA:ELIS) sweetened its offer to buy UK peer Berendsen Plc (L:BRSN) on Wednesday, and the companies said they had agreed in principle on key terms.

The new offer values Berendsen at 2.2 billion pounds or 1250 pence per share, representing a premium of about 45 percent to the stock's closing price before Elis first announced its offer last month.

Berendsen last month rejected a revised, 2 billion pound offer by Elis, saying it did not reflect value being added by a planned expansion.

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