skip to content

Bids, Mergers and Takeovers

Shanks in merger talks with van Gansewinkel

07 July 2016 09:12

Shanks Group has entered exclusive talks with van Gansewinkel Groep BV (VGG) and its two largest shareholders regarding a proposed merger.

It said there was a highly compelling strategic rationale for such a merger, with significant potential cost synergies and significant underlying earnings enhancement.

There was agreement in principle of merger terms, which valued VGG at about €440 million on a debt-free cash-free basis

DETAILS:

· VGG shareholders would receive €306 million in cash (inclusive of VGG's net cash position) and share consideration representing c.29% ownership of the Combined Group

· Request for restoration of dealings in Shanks ordinary shares submitted to the FCA

· Shanks has started the new financial year well with trading slightly ahead of management's expectations

At 9:12am: (LON:SKS) Shanks Group PLC share price was -7.75p at 72.75p

Story provided by StockMarketWire.com

Related Company: SKS

Info Point:

To buy or sell shares call our Dealing Room on 0113 243 6941.

Too much jargon? Our glossary will help make sense of things.

Find out more about our Share Dealing Services.

Client Area Access

» Secure Login

» Not registered yet?

aew-banner-180x255.jpg -

Branch Finder

Redmayne-Bentley have High Street branches throughout the UK. Find your nearest branch.