| CATEGORY: AIM BULLETIN SECTOR: SUPPORT SERVICES |
Westminster no intention of making Pentagon offer |
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Tue 01 Dec 2009
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LONDON (SHARECAST) - Security systems provider Westminster Group said it has no current intention of making an offer for Pentagon Protection.
The announcement comes after Westminster made a preliminary bid approach to the window film provider last month.
Pentagon said at the time that the indicated offer was at a level which, in the opinion of the Pentagon board, substantially undervalues the company.
Westminster’s offer terms placed a value on Pentagon shares that was considerably lower than the prevailing market price at the time the approach was made; since news of the bid approach became public.
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