Scottish entrepreneur Tom Hunter and HBOS have tabled a revised offer for housebuilder Crest Nicholson.
On Friday the Castle Bidco consortium offered 629.7p a share to buy the outstanding Crest Nicholson shares it does not already own.
The Crest board intends to recommend the offer which consists of a cash offer of 620p a share and the right to a final dividend of 9.7p a share that the company intends to declare in its preliminary results on 25 January.
The offer was tabled after an extension to Friday’s ‘put up or shut up’ deadline was agreed.
The takeover panel’s new deadline is 28 February.
References: EGi News 15/01/07
