Industrial equipment rental firm Loxam has made a preliminary cash offer to buy Lavendon, a British aerial work platform rental company. Lavendon said it had received an unsolicited approach from TVH after its half-year results in August. The move will spark takeover rivalry with Belgian equipment supplier TVH, who tabled a deal last week to acquire Lavendon for £348m. Loxam said it had asked Lavendon shareholders not to take action supporting TVH's offer as it was in talks with Lavendon regarding its own. Lavendon also asked its shareholders to take no action on TVH's offer, due to concerns over execution risk and potential business disruption. A spokesman said: "We are aware of the situation at Lavendon.
Industrial equipment rental firm Loxam has made a preliminary cash offer to buy Lavendon, a British aerial work platform rental company. The move will spark takeover rivalry with Belgian equipment supplier TVH, who tabled a deal last week to acquire Lavendon for £348m. Loxam said it had asked Lavendon shareholders not to take action supporting TVH's offer as it was in talks with Lavendon regarding its own. Lavendon also asked its shareholders to take no action on TVH's offer, due to concerns over execution risk and potential business disruption. A spokesman said: "We are aware of the situation at Lavendon.