Recommended acquisition of Biffa Plc
11-FEB-2008
The Boards of WasteAcquisitionco Limited ('Bidco') and Biffa Plc are pleased to announce that they have reached agreement on the terms of a recommended acquisition of the entire issued and to be issued share capital of Biffa by Bidco.
Bidco is a newly incorporated company specifically formed for the purpose of making the Acquisition which is owned indirectly by various entities within the Montagu Funds and the GIP Funds and by UCIL.
Under the terms of the Acquisition, Biffa Shareholders will receive 350 pence in cash for each Biffa Share they hold, valuing Biffa's fully diluted share capital at approximately £1,231 million, and the existing issued share capital of Biffa at approximately £1,225 million.
For more information on this story visit: http://www.biffa.co.uk/
For more information on changes at M Baker Recycling and Compact Power: see the news story 'A more certain future' on the WMW homepage.
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