LV confirms acquisition talks with Highway
LV has confirmed a recommended cash offer for the share capital of Highway Insurance Group.
In an announcement on the London Stock Exchange, LV said that under the terms of the Offer, Highway Shareholders will receive for each Highway Share held, 75 pence in cash. The Offer values the entire issued share capital of Highway at approximately £150m.
The Offer represents a premium of approximately 47% to the closing price of 49.75 pence per Highway Share on 26 August 2008, being the last business day prior to Highway announcing that it was in discussions regarding a possible offer for
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