Glass maker eyes £2bn Japan deal

Glass maker Pilkington is said to be preparing for talks with its smaller Japanese suitor which could see it taken over for more than £2 billion.

Last week Pilkington rejected a prospective offer of 150p a share from Nippon Sheet Glass which valued the company at £1.97 billion.But according to The Sunday Telegraph, Pilkington chairman Sir Nigel Rudd may be prepared to agree to an offer of at least 165p a share from Nippon - valuing the company at £2.16 billion.It is understood that Sir Nigel is determined not to undersell the Merseyside firm and may start negotiations by demanding 170p from Nippon.

600450 Glass maker eyes £2bn Japan deal
Date: 5 November 2005

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