Thus soars after C&W buys stake

英语自学网

　　　Thus soars after C&W buys stake
        　　    Cable & Wireless sweetened its offer for Thus yesterday and snapped up a 29.9% stake in the smaller telecoms firm to
        　　    strengthen its hand.
        　　    C&W failed to secure a full recommendation from the Thus board for its ￡329m offer but was granted access to conduct
        　　    due diligence.
        　　    After a weekend of intense discussions between the two sides, C&W made an offer valuing Thus at 180p a share, up
        　　    from the 165p it had previously offered. It then spent nearly ￡100m in the first hour of trading yesterday buying a
        　　    29.9% stake in Thus at the offer price of 180p.
        　　    Shares in Thus closed up 22% or 31.75p to 177p reflecting market expectations that the bid will succeed.
        　　    Thus neither endorsed nor rejected C&W's offer but said it was "worthy of consideration by shareholders in the
        　　    absence of a better proposal". The company said in a statement: "However, it is the board's view that the offer is
        　　    not such a compelling proposal that the board could give a recommendation to Thus shareholders to accept the offer
        　　    at this time." Thus had initiated talks with C&W last week after failing to find an alternative suitor.