MUNICH (dpa-AFX) - Guinness Peat Group plc (GPG.L, GPGPF.PK) confirmed the signing of a lock-up agreement with German company BayWa Aktiengesellschaft for GPG's 74.25 million shares, representing a 63.46% shareholding, in Turners & Growers Ltd. The offer price under BayWa's proposed Takeover Offer would be $1.85 per share.
Also, the offer would be conditional on BayWa receiving acceptances in respect of shares in Turners & Growers that confer more than 50% of the voting rights in the company. This condition would be satisfied by GPG accepting the offer as per the lock-up deal it reached with BayWa.
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