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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


· 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

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