The Independent on Sunday
VT Group VTG.L is expected to increase its takeover bid for rival support services firm Mouchel MCHL.L to around 300 pence per share after Mouchel argued that previous bids had undervalued the business.
VT Group’s pursuit of Mouchel forms part of a strategy to transform the company from a warship builder into a support services business.
A source said that VT is “almost ready to push the button” on another offer. Iat is expected that a bid could be tabled early this week.
SEMPERIAN SLOWS GROWTH TO UNDER 150 MILLION POUNDS A YEAR
Semperian, a Public Private Partnerships investor, is looking to grow its business by between 100 million and 150 million pounds a year.
The figure would represent growth of ten to 15 per cent a year, and is thought to reflect a call from investors for a more conservative approach in response to a slowing PPP market. Growth has previously reached 350 million pounds a year.
It is thought that the group’s current growth strategy may include the targeting of assets owned by FTSE 250 support services group Interserve (IRV.L).
Prepared for Reuters by Durrants.