Friday, March 30, 2007

Imperial to press for 48-euro Altadis deal-sources

(Reuters) - LONDON, March 30 - Britain's Imperial Tobacco is to press Franco-Spanish rival Altadis to accept a raised bid of 48 euros a share as it is determined not to overpay, sources close to the situation said on Friday.

Altadis's big shareholders are telling the Madrid-based group it should accept between 48 and 50 euros after Imperial's 45 euro bid earlier this month, but Imperial is focusing around the lower end of this range, they added.


Read more at Reuters.com Mergers News

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