Japan's Nippon Sheet Glass is discussing a takeover of Pilkington at more than 160p/share, sources familiar with the situation said 18 Jan. A deal, which at that price would value Pilkington at more than £2.1BN, could come as early as end-January, sources said. They added that the talks could yet fall apart, or the timetable change as the parties continue to haggle over price, among other issues. The offer, if it goes ahead, will be an improvement on the indicative cash offer worth 158p/share made in December, which Pilkington rejected. Pilkington said then that the price, which was raised from the initial offer worth 150p and a second verbal proposal at 155p, still fell short of a level that it would be prepared to recommend. Pilkington & Nippon Sheet Glass, both declined to comment.
