Ancala revises bid for Dee Valley Group

Ancala Fornia, a newly incorporated company indirectly controlled by Ancala, has revised its offer for Dee Valley Group.

The revised offer is 1,706 pence per voting ordinary share and 1,602 pence per non-voting ordinary share.

The original Ancala bid and the revised Ancala bid announced on 22 November provided for the acquisition of the voting ordinary shares to be effected by means of a court-sanctioned scheme of arrangement.

With the consent of the Takeover Panel, Bidco says it will implement the revised Ancala bid in respect of the voting ordinary shares by means of a contractual offer under Part 28 of the Companies Act.