U.K. business services group, Mouchel, has discarded takeover offers from Costain and Interserve, Reuters reports. The company rejected Interserve’s offer of 135 pence per share on the grounds that it undervalued the business.
Mouchel declined Costain’s offer due to execution risk. Mouchel’s decision to discard the takeover bids is supported by its shareholders, including Schroders, M&G and Scottish Widows, adds Financial Times.
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