The statement comes only days after Optare announced that Ashok Leyland, part of India’s Hinduja Group, is planning to raise its stake in Optare to 75.1 per cent through a £4 million share placing.
In a statement to the Stock Exchange today, ADL says: “This announcement does not amount to a firm intention to make an offer and there can be no certainty that any offer will be made. Any offer would be in cash.” It has made a formal approach to Optare - by writing to Chairman, John Fickling - to ask for information so “it can consider whether to make an offer.”
http://www.alexander-dennis.com/media-details.php?s=47&subs=69&catID=1&itemID=127
http://www.proactiveinvestors.co.uk/companies/news/37310/alexander-dennis-considering-cash-offer-for-rival-bus-maker-optare-37310.html
David Gambles
