The executive chairman of Saint-Goban, France's oldest industrial company who recently launched a hostile bid for UK-based BPB, said he was "Very disappointed" as he announced his 720p/share unsolicited cash bid for the UK plasterboard manufacturer. "I have made 3 attempts to engage in meaningful negotiation & unfortunately, have failed, so really had no option but to put the proposal forward to shareholders." Mr Beffa & his team say they cannot see why BPB, a valued supplier & business partner to Saint-Gobain in the UK, has not been more receptive to an approach from an entity it knows so well. It could simply be that BPB knows just how valuable it is to Saint-Gobain, who want to expand into the high-growth market that the British group serves. To read the article in full, please see: news.ft.com/
