TDG says yes to takeover by Laxey

British logistics service provider TDG recently reached agreement with the private equity company Laxey Partners Ltd on the terms of a recommended cash offer for TDG at GBP 2.50 per share.

Laxey also intends to make an alternative offer of GBP 2 per share in cash plus the opportunity for shareholders to participate in the equity of the acquisition vehicle to be established by Laxey and to be listed on AIM. Laxey confirmed it has secured the support of the TDG pension trustees in respect of its proposals for the pension fund and reached agreement with its financing banks, in each case subject to agreeing final documentation.