Heiton rejects Grafton proposal
Grafton Group plc has announced that it has been in discussions with the Board of Heiton Group plc Heiton with regard to a possible offer to acquire the entire issued and to be issued ordinary share capital of Heiton.
The discussions culminated in a proposal to the Board of Heiton on the basis of receiving a recommendation from the Board of Heiton and amounted to €6.35 per Heiton share.
The possible offer would value the whole of Heiton’s fully diluted share capital at over €325m.
The board of Heiton rejected this proposal. Grafton continues to review its strategic options, including the possibility of making an offer for Heiton.
