Feeds

C&W closes in on Thus acquisition

Shareholders asked for thumbs-up

Beginner's guide to SSL certificates

Cable and Wireless has increased its offer for smaller rival telco Thus Group, as it bids to gain weight for its battles against BT for big business contracts.

C&W's surprise first 165p per share offer for Glasgow-based Thus was rejected by its board early in June.

Today's improved 180p per share bid values Thus at about £330m. Its directors have agreed to put the offer to shareholders this time, but have stopped short of recommending they accept it, saying: "The offer is not such a compelling proposal that the Thus board could give a recommendation to Thus shareholders to accept the offer at this time."

C&W boss Richard Lapthorne said in a statement: "Today's offer represents a generous premium of 64 per cent to Thus' share price before our approach and, we believe, is an attractive proposal for Thus shareholders which unlocks significant value."

Ahead of the shareolders' vote, C&W has gone ahead buying up Thus shares in the open market, and said this morning that it already owns 29.9 per cent of its target. ®

Secure remote control for conventional and virtual desktops

More from The Register

next story
BIG FAT Lies: Porky Pies about obesity
What really shortens lives? Reading this sort of crap in the papers
Be real, Apple: In-app goodie grab games AREN'T FREE – EU
Cupertino stands down after Euro legal threats
Assange™ slumps back on Ecuador's sofa after detention appeal binned
Swedish court rules there's 'great risk' WikiLeaker will dodge prosecution
prev story

Whitepapers

Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
Getting started with customer-focused identity management
Learn why identity is a fundamental requirement to digital growth, and how without it there is no way to identify and engage customers in a meaningful way.
10 threats to successful enterprise endpoint backup
10 threats to a successful backup including issues with BYOD, slow backups and ineffective security.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.