IHS Chemical Week

People & Business :: M&A

PGI makes takeover offer for UK's Fiberweb

8:11 AM MDT | August 21, 2013 | Francinia Protti-Alvarez

Fiberweb (Richmond, UK) has received a revised takeover offer from Polymer Group Inc. (PGI; Charlotte, NC), Fiberweb announced Tuesday. The offer values the company at about £170 million ($266.2 million), or £0.975/share, according to a report from the Financial Times. The offer represents a premium of about one-third on the company's share price in mid-July, the report adds. Fiberweb agreed, on 5 August, to provide PGI with access to further due diligence information to facilitate the making of a formal offer for Fiberweb. Fiberweb confirmed...

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