Henlys is unfazed by bid by rival for Dennis Group

Article Abstract:

Henlys Group PLC has remained undaunted by an offer by Mayflower Corporation PLC of the UK to purchase Dennis Group PLC. Mayflower Corporations has made a formal bid of 254.7 million pounds sterling, or $7.33 a share, for Dennis Group PLC. Mayflower said its offer includes a full loan-note alternative representing a 34% premium to an all-paper bid from rival Henlys Group PLC of the UK. Henlys earlier offered to provide 64 of its new shares for every 100 shares held by stockholder of Dennis, an issued share capital worthy at around 190 million pounds sterling. Henlys is not intimidated by the rival offer since it could have implied backing of AB Volvo of Sweden through plans to purchase 10% of the shares of the UK company.

Comment:

Makes a formal bid of 254.7 million pounds sterling, or $7.33 a share, for Dennis Group PLC

United Kingdom, Asset sales & divestitures, Acquisitions & mergers, Motor Vehicle Metal Stamping, Auto Job Stampings, Metal industries, Automotive stampings, Dennis Group PLC

---

Daimler-Benz and Mayflower plan to create bus, truck jount venture

Article Abstract:

Daimler Benz AG, the leading bus maker in the world, and Mayflower Corp., a UK automotive parts group, plan to create a global bus and truck joint venture. The partnership will help Mayflower's $255-million-pounds-sterling hostile bid for Dennis Group PLC, a fire-engine and chassis manufacturer. But this may be futile as Dennis has already backed Henlys Group PLC's $309-million cash-and-share offer. Dennis endorsed Henlys's bid because of the latter's strength in North America and links with Volvo AB of Sweden.

Comment:

Along with Daimler-Benz AG, plans to create a global bus and truck joint venture

United States, Trucks, Motor Vehicle Manufacturing, Germany, Joint ventures, Buses, Heavy Duty Truck Manufacturing, Daimler-Benz AG, Buses (Transportation)

---

Similar abstracts:

• Abstracts: Henlys trumps Mayflower's bid for Dennis to create bus giant. Bus makers Dennis, Henlys plan merger
• Abstracts: Henlys prepares revised offer for Dennis merger. Rank weighs sale of nightclubs in bid to refocus its business
• Abstracts: Chrysler, Daimler leaders already have a plan, as shareholders vote on merger. Smale's retirement at GM may spur more changes
• Abstracts: Retailer Kingfisher joins Scottish media in bidding for video publisher. part 2 U.K. water companies criticize regulator's demands
• Abstracts: Workers in China organize to oppose restructuring; at foreign and domestic firms, long-docile labor force learns benefits of spontaneous actions

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.