IOMINVESTCOM
05 Mar 2017
Thank you loxam and lvd Thank you for great result for shareholders realising true value.
avno
18 Jan 2017
Re: could there be more!! The question is have TVH got the firepower to carry on? 1p increments make me think they are "tight" and have limited resources. So if TVH come back it is probably going to be 271p....and on we go. If I was TVH or Loxam I would not want this to go on much longer as it will start to damage the business. Therefore TVH needs to be more realisitic in the counter bid....my 2.75 guess could not be looking a little low. But I think if TVH come back with 2.71,Loxam will then offer 2.75! Will be interesting to see what happens.
peddlar
18 Jan 2017
could there be more!! Just when i thought that this was all done !!I guess this has still got legs.Either there is going to be a killer blow or we are done at 270.
tasagil
18 Jan 2017
Loxam increased offer of 270p [link] coming?
IOMINVESTCOM
29 Dec 2016
Daily Mail [link]
IOMINVESTCOM
28 Dec 2016
Paul Scott's view [link]
IOMINVESTCOM
28 Dec 2016
Loxam SAS increased Offer - 2.60.....80) For immediate release28 December 2016INCREASED RECOMMED CASH OFFERFORLAVON GROUP PLC ("LAVON" OR THE "COMPANY"
BYLOXAM SAS ("LOXAM" OR THE "OFFEROR"1. IntroductionOn 14 December 2016, the boards of directors of Lavendon and Loxam announced that they had reached agreement on the terms of a recommended all cash offer for the entire issued and to be issued share capital of Lavendon by Loxam, to be implemented by way of a takeover offer under the City Code and within the meaning of Part 28 of the Companies Act 2006 (the "Original Offer".On 15 December 2016, Loxam published an offer document setting out the full terms and conditions of the Original Offer (the "Original Offer Document".On 15 December 2016, TVH Group N.V. ("TVH" announced an increased cash offer (the "TVH Increased Offer" of 230 pence per share for the entire issued and to be issued share capital of Lavendon.On 16 December 2016, the boards of directors of Lavendon and Loxam announced an increased recommended all cash offer of 250 pence per share for the entire issued and to be issued share capital of Lavendon by Loxam (the "Increased Recommended Offer".On 23 December 2016, TVH announced a second increased cash offer (the "TVH Second Increased Offer" of 251 pence per share for the entire issued and to be issued share capital of Lavendon.Today, the boards of directors of Lavendon and Loxam are pleased to announce an increased recommended all cash offer of 260 pence per share for the entire issued and to be issued share capital of Lavendon by Loxam (the "Second Increased Recommended Offer".2. Second Increased Recommended OfferThe Second Increased Recommended Offer values the entire share capital of Lavendon in issue as at 23 December 2016 at GBP442 million and represents a premium of approximately:-- 87 per cent. to the Closing Price of 139.0 pence for each Lavendon Share on 21 November 2016 (being the last Business Day prior to the start of the Offer Period); and-- 98 per cent. to the volume-weighted price of 131.3 pence for each Lavendon Share for the twelve month period ended on 21 November 2016 (being the last Business Day prior to the start of the Offer Period).3. Amendment to debt facility agreementLoxam further announces that the Interim Facility Agreement, a summary of which was included in paragraph 8.3 of Section V (Additional Information) of the Original Offer Document, has been amended for a second time, so as to increase the facilities available to Loxam to EUR795 million and to increase the portion of the facilities available for cash consideration to EUR570 million. Copies of the amendment documentation will be available on Loxam's website at www.loxamgroup.com.Rothschild and Deutsche Bank, financial advisers to Loxam, are each satisfied that sufficient resources are available to Loxam to enable it to satisfy, in full, the cash consideration payable to Lavendon Shareholders by Loxam under the terms of the Second Increased Recommended Offer.4. Offer related arrangementsOn 16 December 2016, at the same time as the announcement of Loxam's Increased Recommended Offer of 250 pence per share, the boards of directors of Lavendon and Loxam announced that Lavendon had agreed to increase the break fee of GBP3,700,000 payable under the break fee letter between Lavendon and Loxam dated 14 December 2016 (the "Break Fee Letter" to GBP4,200,000, being 1 per cent. of the value of the current issued share capital of Lavendon pursuant to the Increased Recommended Offer. Loxam and Lavendon therefore entered into a revised break fee agreement on 16 December 2016 to reflect this increase. Following discussions with the Takeover Panel, Loxam and Lavendon have agreed to revert to a break fee of GBP3,700,000, being the amount of the original break fee as set out in the Break Fee Letter.5. How to accept the Second Increased Recommended OfferA revised offer document (the "Revis
IOMINVESTCOM
24 Dec 2016
Re: TVH Increases Offer Price Sneaky increased offer not only 1p above Loxam's offer but after hours disclosure.We already know which side management want to work with so fingers crossed one more increased offer from Loxam will be the final closure ie 2.75....80)GLTA
tasagil
23 Dec 2016
TVH Increases Offer Price TVH Group N.V. announces that Libra Bidco Ltd has increased its offer price to 251p per share (second increased offer). Now will Loxam SAS counter???Here's hoping!!
IOMINVESTCOM
16 Dec 2016
Re: The bid that keeps on giving! ditto - Spread currently 260.75 - 261 so market is factoring in another increased off maybe 2.75....80).
avno
16 Dec 2016
Re: The bid that keeps on giving! So what is the final price going to be? my guess is 2.75.£2.75 starts to be a fairer value. Although I would happily hold until the big infrastructure spend in the UK kicks off in a couple of years time. When they will be definitely worth more. Hence the attraction to acquire them now.
Eagerbeaver66
16 Dec 2016
The bid that keeps on giving! Nice to investors finally getting rewarded for their patience, where an initial opportunistic bid on an undervalued company gradually got pushed up towards a fairer value.And there was still solid buying this morning above the latest bid offer, so maybe there's still room for further bids. - I hope!
IOMINVESTCOM
16 Dec 2016
Loxam SAS Offer - 2.50.....80) 16 December 2016INCREASED RECOMMED CASH OFFERFORLAVON GROUP PLC ("LAVON" OR THE "COMPANY"BYLOXAM SAS ("LOXAM" OR THE "OFFEROR"1. IntroductionOn 14 December 2016, the boards of directors of Lavendon and Loxam announced that they had reached agreement on the terms of a recommended all cash offer for the entire issued and to be issued share capital of Lavendon by Loxam, to be implemented by way of a takeover offer under the City Code and within the meaning of Part 28 of the Companies Act 2006 (the "Original Offer".On 15 December 2016, Loxam published an offer document setting out the full terms and conditions of the Original Offer (the "Original Offer Document".On 15 December 2016, TVH Group N.V. ("TVH" announced an increased cash offer (the "TVH Increased Offer" of 230 pence per share for the entire issued and to be issued share capital of Lavendon.Today, the boards of directors of Lavendon and Loxam are pleased to announce an increased recommended all cash offer of 250 pence per share for the entire issued and to be issued share capital of Lavendon by Loxam (the "Increased Recommended Offer".2. Increased Recommended OfferThe Increased Recommended Offer values the entire share capital of Lavendon in issue as at 15 December 2016 at GBP425 million and represents a premium of approximately:-- 79.9 per cent. to the Closing Price of 139.0 pence for each Lavendon Share on 21 November 2016 (being the last Business Day prior to the start of the Offer Period); and-- 90.4 per cent. to the volume-weighted price of 131.3 pence for each Lavendon Share for the twelve month period ended on 21 November 2016 (being the last Business Day prior to the start of the Offer Period).3. Amendment to debt facility agreementLoxam further announces that the Interim Facility Agreement, a summary of which was included in paragraph 8.3 of Section V (Additional Information) of the Original Offer Document, has been amended, so as to increase the facilities available to Loxam from EUR705 million to EUR775 million and to increase the portion of the facilities available for cash consideration from EUR470 million to EUR550 million. Copies of the amendment documentation will be available on Loxam's website at www.loxamgroup.com.Rothschild and Deutsche Bank, financial advisers to Loxam, are each satisfied that sufficient resources are available to Loxam to enable it to satisfy, in full, the cash consideration payable to Lavendon Shareholders by Loxam under the terms of the Increased Recommended Offer.4. Offer related arrangementsOn account of the Increased Recommended Offer, Lavendon has agreed to increase the break fee payable under the Break Fee Letter to GBP4,200,000. Loxam and Lavendon therefore entered into a revised break fee agreement on 16 December 2016 (the "Revised Break Fee Letter", pursuant to which Lavendon has agreed to pay to Loxam a break fee of GBP4,200,000 in the event that the Increased Recommended Offer is withdrawn or lapses and prior to such withdrawal or lapse: (i) the Lavendon Directors withdraw or adversely modify their recommendation of the Increased Recommended Offer; and (ii) an offer is made by a third party and that third party offer becomes or is declared unconditional in all respects or is completed.5. How to accept the Increased Recommended OfferA revised offer document (the "Revised Offer Document" containing the full terms of, and conditions to, the Increased Recommended Offer together with the associated revised form of acceptance (the "Revised Form of Acceptance" will be posted to Lavendon Shareholders within 28 days of the date of this announcement and be made available, subject to certain restrictions relating to persons resident in certain jurisdictions, on Loxam's website at www.loxamgroup.com in due course.Lavendon Shareholders wishing to accept the Increased Recommended Offer in respect of certificated Lavendon Shares, should co
IOMINVESTCOM
15 Dec 2016
Loxam - Urges take no action at 2.30 TVH offer 15 December 2016RECOMMED CASH OFFERFORLAVON GROUP PLC ("Lavendon"BYLOXAM SAS ("LOXAM"Loxam is considering its optionsThe Board of Loxam notes the announcement issued earlier today by TVH Group N.V. ("TVH" of a revised cash offer for the entire issued and to be issued share capital of Lavendon.Loxam is considering its options and urges Lavendon Shareholders to take no action in support of the offer announced by TVH.A further announcement will be made in due course.
IOMINVESTCOM
15 Dec 2016
Increased Offer 15 December 2016Acquisition of Lavendon Shares and Increased Offer1. Acquisition of Lavendon SharesTVH Group N.V. ("TVH" announces that Libra Bidco Limited ("Libra Bidco" has acquired 9,211,170 shares of Lavendon Group plc ("Lavendon", representing approximately 5.4 per cent. of the share capital of Lavendon in issue as at 13 December 2016 at a price of 230 pence per Lavendon Share. 3,350,130 of these shares were acquired from GVQ Investment Funds (Dublin) PLC, from which Libra Bidco had previously received an irrevocable undertaking to accept the Offer (at 205 pence per Lavendon Share) in respect of these shares.Aggregated with the 15,373,908 Lavendon Shares acquired on 25 November 2016, Libra Bidco now owns 24,585,078 Lavendon Shares, representing approximately 14.5 per cent. of the issued share capital of Lavendon.Libra Bidco has also received an irrevocable undertaking from Unicorn Asset Management Limited in respect of 10,018,857 Lavendon Shares, representing approximately 5.9 per cent. of the issued share capital of Lavendon.In aggregate, Libra Bidco has therefore acquired or received irrevocable undertakings to accept the Increased Offer (as defined below) from Lavendon Shareholders in respect of approximately 20.4 per cent. of the share capital of Lavendon in issue as at 13 December 2016.2. Increased OfferIn accordance with the City Code, TVH announces an increased cash offer (the "Increased Offer" of 230 pence per share for the entire issued and to be issued share capital of Lavendon by Libra Bidco.The Increased Offer values the entire share capital of Lavendon in issue as at 13 December 2016 at GBP391 million and represents a premium of 65.5 per cent. to the Closing Price of 139.0 pence on 21 November 2016 (the last Business Day before the start of the Offer Period).On 12 December 2016, TVH announced that Libra Bidco, pursuant to the terms of the Offer, has waived the acceptance condition to which the Offer is subject down from 75 per cent. to 50 per cent. plus one share.3. Amendment to Facilities AgreementTVH further announces that the Facilities Agreement, a summary of which was included in paragraph 8.2 of Section IV (Additional Information) of the Offer Document, has been amended, so as to increase the Facilities available to TVH from EUR600 million to EUR700 million. Copies of the amendment documentation will be available on TVH's website at www.tvh.com.BofA Merrill Lynch, financial adviser to TVH, is satisfied that sufficient financial resources are available to Libra Bidco to enable it to satisfy, in full, the cash consideration payable to Lavendon Shareholders by Libra Bidco pursuant to the terms of the Increased Offer.4. TVH seeking to acquire further Lavendon Shares todayInstitutional Lavendon Shareholders wishing to sell their shares for 230 pence per Lavendon Share in cash today should contact BofA Merrill Lynch (Peter Luck: +44 (0)20 7995 6429) who have authority to make a limited number of market purchases.5. How to accept the Increased OfferA revised offer document (the "Revised Offer Document" containing the full terms of, and conditions to, the Increased Offer together with the associated revised form of acceptance (the "Revised Form of Acceptance" will be posted to Lavendon Shareholders and be made available, subject to certain restrictions relating to persons resident in certain jurisdictions, on TVH's website at www.tvh.com in due course.Lavendon Shareholders wishing to accept the Increased Offer in respect of certificated Lavendon Shares, should complete either (i) the Form of Acceptance accompanying the Offer Document dated 30 November 2016; or (ii) the Revised Form of Acceptance which will accompany the Revised Offer Document to be posted in due course.Lavendon Shareholders wishing to accept the Increased Offer in respect of uncertificated shares should do so electronically through CREST.Lavendon Shareholders
