Takeover Panel: Universe Bidco Must Raise, Withdraw Scott Wilson Bid By July 2

30th Jun 2010 07:16

LONDON (Dow Jones)--The U.K. Takeover Panel said Wednesday that Universe Bidco must announce no later than 0630 GMT on July 2 either an increased offer for Scott Wilson Group PLC (SWG.LN) of 245p per share, or above, or that it wont' be increasing the terms of its offer of 210p per share announced June 28. Scott Wilson shares closed Tuesday at 261 pence valuing the company at GBP192.08 million. -By Ian Walker, Dow Jones Newswires; 44-20-7842-9296; [email protected] (END) Dow Jones Newswires June 30, 2010 02:16 ET (06:16 GMT)