Loxam enters the fray for Lavendon

28th Nov 2016 08:13

(ShareCast News) - France's Loxam has made a preliminary approach to Lavendon Group about a possible cash offer for the equipment rental company.Last week, Lavendon rejected an offer of 205p per share from Belgian industrial equipment supplier TVH Group, saying support among its shareholders was "not forthcoming".Loxam said discussions were ongoing and there can be no certainty that any offer will be made, nor as to the terms of any such offer. It urged Lavendon shareholders not to take any action in support of the TVH offer.Lavendon noted the announcement by Loxam and advised its shareholders to take no action at this stage.The company said a further announcement will be made if and when appropriate.At 0821 GMT, the shares were up 5.9% to 216.25p.