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Abbey receives mandatory offer

By BFN News | 10:55 AM | Wednesday 01 August, 2012


Irish property firm Abbey (LON:ABBY), which is quoted on AIM, has received an unconditional mandatory offer from Gallagher Holdings. Following its recent acquisition of Ordinary Shares, which triggered the mandatory offer, it is understood that Gallagher Holdings Limited now holds 51.6% of Abbey. It is noted that the Mandatory Offer is unconditional and is a final offer which will not be increased. The independent directors of Abbey, being all of the directors of Abbey other than Messrs. Charles and David Gallagher, will consider the Mandatory Offer and will provide further advice to shareholders in due course. In the meantime, the company says Abbey shareholders should take no action. At 10:55am: (LON:ABBY) Abbey share price was +52p at 520p Story provided by StockMarketWire.com

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