TITLE

British Vita rejects 335p second offer from TPG

PUB. DATE
February 2005
SOURCE
Cabinet Maker;2/11/2005, Issue 5425, p7
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
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.
ACCESSION #
16107538

 

Related Articles

  • In brief.  // Cabinet Maker;2/25/2005, Issue 5427, p5 

    The article presents information related to the furniture industry. The Takeover Panel has told U.S. venture capital company Texas Pacific Group Inc. that it has until noon on March 21, 2005 to announce if it intends to launch a takeover offer for foam maker British Vita PLC. The Health and...

  • British Vita recommends improved offer from TPG. Robinson, Simon // European Chemical News;3/28/2005, Vol. 82 Issue 2140, p8 

    Reports on the decision of British Vita to recommend an improved bid offer to shareholders from Texas Pacific Group. Total value of the revised share offer; Details of the improved offer; Expectation of the British Vita board on the outcome of the proposed bid.

  • BV Recommends Takeover Plan.  // Nonwovens Industry;May2005, Vol. 36 Issue 5, p14 

    Reports that the board of British Vita PLC is recommending a takeover bid from TPG Spring Ltd., a company formed at the request of funds managed or advised by Texas Pacific Group.

  • TPG to buy British Vita.  // Chemical Market Reporter;3/28/2005, Vol. 267 Issue 13, p12 

    Reports that specialty polymers producer British Vita has agreed to a bid by investment group Texas Pacific Group. Value of the offer; Financial performance of the companies.

  • BV Takeover Deadline Issued.  // Nonwovens Industry;Mar2005, Vol. 36 Issue 3, p14 

    Reports that the Takeover Panel of Great Britain has set a March 21, 2005 deadline for U.S. buyout company Texas Pacific Group Inc. to bid for furniture foam maker British Vita PLC.

  • British Vita Falls to Texas Pacific. Young, Ian // Chemical Week;3/30/2005, Vol. 167 Issue 11, p9 

    Reports on the takeover of British Vita by Texas Pacific Group as of March 2005. Cash bid value offered by Texas Pacific Group; Financial advisers of Texas Pacific regarding the acquisition deal; Company background of British Vita.

  • Streamlined British Vita doubling its capital investment. Higgs, Richard // Plastics News;8/20/2007, Vol. 19 Issue 25, p7 

    The article focuses on the restructure of British Vita PLC by the U.S. venture capital firm Texas Pacific Group of Fort Worth, Texas, after it acquired it two years ago. British Vita has been trying to offset significant resin price inflation since the TPG takeover by improving productivity,...

  • Bid highlights true value.  // Cabinet Maker;2/18/2005, Issue 5426, p6 

    Reports on the impact of the bid approach of private investment Texas Pacific Group Inc. (TPG) to obtain British Vita PLC (BVP). Estimated point gained by the company in the stock market; Composition of the value offered by the investment group; Potential bid prize that may be seize by TPG in...

  • Freshfields elbows out Cleary Gottlieb on Texas Pacific buyout. Begum, Husnara // Lawyer;2/14/2005, Vol. 19 Issue 6, p8 

    Reports that British law firm Freshfields Bruckhaus Deringer has received instructions for advice from Texas Pacific Group, on its bid for British Vita PLC in February 2005. Appointment of the firm's partner Ed Braham to the bid attempt; Background on the business relationship of the law firm...

Share

Read the Article

Courtesy of VIRGINIA BEACH PUBLIC LIBRARY AND SYSTEM

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics