Giles outlines provisional offer for CBG
Giles Insurance Brokers has responded to CBG’s confirmation of its approach with a possible offer at a price of 32p per share in cash for the entire issued and to be issued share capital of CBG.
The offer is subject to due diligence and the CBG board's recommendation (the "pre-conditions").
Giles' statement on the London Stock Exchange said: "This potential offer price represents a 54.2% premium to the share price as at the close of business on 19 July 2011. The pre-conditions are waivable at Giles' discretion."
It added: "This announcement does not amount to a firm intention to make an offer and accordingly, there can be no certainty that any offer will be made for the company even if
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