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Insider UK
Insider UK
National
John Glover

John Menzies' board engages with shareholders after it rejected £468 million takeover bid

The board of John Menzies has engaged with its shareholders after it received a "preliminary and unsolicited proposal" from National Aviation Services (NAS) Holding to acquire the entire share capital of the company at a price of 510 pence per share in cash, or around £468m.

The board engaged with its shareholders following the announcement on February 9, where it previously announced that it had unanimously rejected the NAS proposal.

It concluded that it is opportunistic, conditional and that the terms fundamentally undervalued Menzies and its future prospects.

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