SHV WITHDRAWS IC GAS OFFER
SHV Holdings NV said it is
withdrawing its take-over bid for Imperial Continental Gas
Association <ICGS.L> after failing to gain the minimum number
of pledges sought from IC Gas shareholders.
SHV said in a statement it had sought to gain 750,000 IC
Gas shares under a 700p offer for IC Gas ordinary stock but was
informed that level was not reached when the deadline expired.
"The tender offer is therefore void," it said.
SHV also offered 252 pence for every one stg nominal of IC
Gas loan stock under the bid, made by <SHV (United Kingdom)
Holding Co Ltd>.