British Vita rejects 335p second offer from TPG

February 2005
Cabinet Maker;2/11/2005, Issue 5425, p7
Trade Publication
The article reports that U.S. venture capital firm Texas Pacific Group Inc. (TPG) is likely to have to raise its offer yet again if it is to buy British Vita PLC. A first 325P indicative offer was rejected by Great Britain's largest foam maker, which it said substantially, undervalued the company and its prospects. TPG then returned with a 335P proposal, valuing British Vita at £624 million. British Vita rejected the improved offer, saying it was only a marginal increase that continues to substantially undervalue the company and its prospects.


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