Pilkington: Nippon Sheet Glass deal off

Pilkington PLC will say in a statement under preparation that takeover talks with Nippon Sheet Glass (NSG) have failed, it was reported in the Sunday Telegraph on 8 January 2006.
“The advice from the…

Pilkington PLC will say in a statement under preparation that takeover talks with Nippon Sheet Glass (NSG) have failed, it was reported in the Sunday Telegraph on 8 January 2006. “The advice from the bankers is that this deal isn“t going to happen,” the newspaper quoted a source as saying. The report added that as NSG owns 20% of Pilkington“s shares an alternative offer is unlikely. Pilkington rejected a proposal worth GBP 1.58 a share, or GBP 2.1 billion, on 15 December 2006, having refused approaches worth GBP 1.50 and GBP 1.55.