After raising its offer to 775p/share, Compagnie de Saint-Gobain (S-G) has won its battle to acquire BPB plc. The offer values the entire issued ordinary share capital of BPB at approximately £3,894M, or a 51% premium to the BPB share price on 20 July, the day before S-G announced it might make a cash offer. It is the largest acquisition ever made by S-G. Commenting on the recommended offer, Ian Gibson, Chairman of BPB said, "BPB's strategy has been to provide superior growth as a focused independent company. However, S-G have today made a compelling offer which delivers full value for BPB's world leading position and its future prospects". S-G sees the main synergies in the deal as combining the plasterboard element of building interiors with its flat glass and insulation businesses.
