Heiton urges shareholders to reject Grafton move after talks break down
Grafton said yesterday that it valued Heiton at €325 million, or €6.35 per share, a 22% premium on the €5.20 level where Heiton shares traded yesterday.
Heiton directors later poured cold water on the approach in a statement to the stock exchange, saying the board "categorically rejected" the proposal and dismissing it as "a speculative attempt to take advantage of Heiton's future potential at the expense of its existing shareholders".
