LONDON (Thomson Financial) - EAG Inc.(EAGI) said it is considering whether to make a counteroffer in cash for EAG Ltd. after SVTC Technologies LLC's bid for the company.
EAGI had announced a recommended cash offer of 110 pence per share for EAG on July 18.
Separately, EAG Ltd. said it is considering a 120 pence per share cash offer from SVTCA LLC, a wholly owned subsidiary of SVTC Technologies.
On July 30, SVTC Technologies said SVTC Bidco has made a cash offer for EAG at 120 pence per share cash, representing a premium of about 9.1 percent to the recent offer by EAGI -- the bidding vehicle for Odyssey Investment Partners in which EAG's senior management team is also involved. TFN.newsdesk@thomson.com kkb/cmr COPYRIGHT Copyright Thomson Financial News Limited 2008. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
EAGI had announced a recommended cash offer of 110 pence per share for EAG on July 18.
Separately, EAG Ltd. said it is considering a 120 pence per share cash offer from SVTCA LLC, a wholly owned subsidiary of SVTC Technologies.
On July 30, SVTC Technologies said SVTC Bidco has made a cash offer for EAG at 120 pence per share cash, representing a premium of about 9.1 percent to the recent offer by EAGI -- the bidding vehicle for Odyssey Investment Partners in which EAG's senior management team is also involved. TFN.newsdesk@thomson.com kkb/cmr COPYRIGHT Copyright Thomson Financial News Limited 2008. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.