Severn Trent's acquisition of Dee Valley delayed

At the Scheme Court Hearing held today, in respect of the revised proposal for the acquisition of Dee Valley Group by Severn Trent, was adjourned until Friday 10 February 2017 pending any application to appeal.

Accordingly, the Scheme will not become effective prior to this date.

Dee Valley said it will make a further announcement in due course. The Dee Valley Board continues to recommend the Severn Trent Scheme to the Dee Valley Shareholders and Dee Valley Shareholders should continue to take no action in respect of the Ancala offer and should not sell their shares to Ancala.

At 2:10pm:

(LON:DVW) Dee Valley Group PLC share price was +55p at 1790p

(LON:SVT) Severn Trent PLC share price was +40p at 2316p