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Berendsen rejects Elis proposal

24 May 2017 08:02

Berendsen's board has rejected Elis's possible offer and sees no basis for discussions.

Berendsen said the proposal fundamentally failed to reflect the group's inherent value and described Elis's approach as highly opportunistic.

It said the combined business would have significantly higher leverage than Berendsen which would put at risk the delivery of Berendsen's strategy and it said a combination would significantly increase risks for Berendsen's shareholders.

Berendsen's board reconfirmed the 2017 forecast for adjusted operating profit of approximately £150m and announced a 2018 forecast for adjusted operating profit of approximately £170m.

At 8:02am: (LON:BRSN) Berendsen Plc share price was -11p at 1068p

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