BPB Plc plans to sweeten its cash return to shareholders to around £600M as it fights a hostile bid from Saint-Gobain, sources familiar with the situation said on Friday. BPB announced in August it would return £350M to investors as it tries to fend off the £3.6BN cash bid from the world's largest building materials firm. The £600M includes that initial £350M, sources said. A spokesman for BPB declined to comment. In its initial defence document on 14 Sept, BPB focused on its growth prospects as it argued the SG bid undervalued it. 7 October is the deadline for BPB to submit further arguments in its defence. BPB upped its full-year profit forecast on Sept 14 and said this strengthened its case for rejecting the bid. To read the article in full please see: today.reuters.co.uk
