LONDON (Thomson Financial) - Bodycote International PLC said it has rejected a revised 332 pence per share cash offer for the company from Swiss engineering group Sulzer AG.
The company said the revised offer is an increase of 2 pct over the previous rejected approach, but that the new proposal 'continues to significantly undervalue' the group.
Bodycote rejected a 325 pence per share conditional cash offer from Sulzer on March 2. TFN.newsdesk@thomson.com faj/vlb COPYRIGHT Copyright AFX News Limited 2007. All rights reserved. The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.