Green Group intends to establish the north-west of England as an important part of its British activities, building on the Trafford Park Estates portfolio, Mr Stephen Vernon, Green's managing director, has said. Commenting on Trafford's decision to recommend acceptance of Green's £133 million sterling (£156 million) bid, he said Green would now be concentrating on realising the potential of the combined portfolio for the benefit of all shareholders in the enlarged company.
After a protracted period of resistance, the directors of Trafford on Monday advised their shareholders to accept the offer from Green and are to accept in respect of their own 5.5 per cent shareholding. Green has reiterated that the cash alternative of 190p sterling per share will only be available until 1 p.m. on Friday, July 17th and will not be extended. It also noted that, based on a Green share price of 520p, its share offer values Trafford's shares at 204p sterling.
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