Laxey given more time as Wincanton decide not to bid for TDG

On 21 May 2008, the Panel Executive announced that it had ruled that Laxey Partners must, by 5.00pm on 20 June 2008, either announce a firm intention to make an offer for TDG under Rule 2.5 of the Code or announce that it does not intend to make an offer for TDG.

On 9 May 2008 Wincanton announced that it had approached the board of TDG with an indicative cash offer for TDG at 281.25 pence per ordinary TDG share. Wincanton has concluded that it is not in the best interests of Wincanton shareholders to proceed with an offer for TDG and has informed the Board of TDG of this decision. Wincanton accordingly confirms that it has no intention of making an offer for TDG at this time.