PIL), a spokesman for the Japanese company said Monday.
The spokesman, contacted in Tokyo, said "there is no truth to the report," published in The Sunday Times of London, which said a planned deal valued the U.K. company at GBP1 billion.
The newspaper also said Nippon Sheet Glass - Pilkington's largest shareholder with a 20.4% stake - had informally approached a Pilkington director last month with an offer of more than 80 pence a share.
Pilkington officials weren't immediately available for comment on the report.
But analysts were skeptical that a deal was in the works, with several doubting that Nippon Sheet had the resources to bid at such a premium to the current share price.
One analyst said Pilkington is often the subject of takeover talk and that the idea of a takeover by Nippon Glass has been floated previously.
Pilkington shares were up 3.7% around 0950 GMT Monday at 62.75 pence.
Nippon Sheet Glass/Pilkington: Frequent Speculation
Nippon Sheet Glass Co. Ltd. (J.NSG) Monday denied a U.K. press report saying that it planned to bid for Pilkington PLC (U.