Summary
Pilkington close to agreeing Pounds 2.2bn offer from Japanese
PILKINGTON looks set to be the latest major British company to fall to a foreign raider, with Nippon Sheet Glass close to finalising a Pounds 2.2 billion, 165p a share, takeover for the group. The Japanese company, which already has 20% of Pilkington, has reportedly come to a deal with the British glassmaker's chairman, Sir Nigel Rudd, pictured. The offer comes at a 10% premium to Nippon's original offer of 150p in the autumn, and is also higher than a subsequent pitch of 158p. A deal would make Pilkington the latest British company to lose its independence. The last 12 months has seen the fall of Allied Domecq, O2, Exel and BPB, while the takeover battle for PO is still being fought out between Dubai and Singapore.See the full content of this document
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