UK logistics specialist TDG has announced that it has reached an agreement with Isle of Man-based hedge fund Laxey Partners on the terms of a recommended cash offer for TDG at 250 pence per share. Laxey, which currently owns 22 per cent of TDG, also intends to make an alternative offer of 200 pence per share in cash plus the opportunity for shareholders to participate in the equity of the acquisition vehicle to be established by Laxey and to be listed on the Alternative Investment Market (AIM).
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