John Whittaker’s Peel Holdings has made an £88m takeover offer for listed film studios group Pinewood Shepperton.
Pinewood’s board made the announcement after its share price jumped late on Friday afternoon.
The shares have climbed a further 4% in morning trading today.
Peel has offered 190p a share, plus a dividend of 2.5p per share, for Pinewood.
The company has a 29.78% stake in Pinewood.
Reports this morning said key Pinewood Shepperton shareholders believe Peel’s offer “undervalues” the company.
They are thought to believe an offer of 200p-225p per share would represent a fairer price than the 190p per share offered.
nathan.cross@estatesgazette.com
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