Harworth Group Rejects Peel Pepper's 172.5p Cash Offer
Harworth Group plc has rejected a takeover bid of 172.5 pence per share from Peel Pepper (UK) Limited, citing undervaluation. The company emphasizes its robust asset base and ongoing growth initiatives, including a significant industrial pipeline and a new data center project.
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Harworth Group plc has officially declined an unsolicited takeover offer from Peel Pepper (UK) Limited, asserting the proposal undervalues the company's prospects. The board believes the timing of the offer is opportunistic, aimed at capitalizing on market conditions.
Currently, Harworth holds a 0.8GW power-enabled land bank alongside a 35 million square foot industrial development pipeline. The firm is also engaged in advanced negotiations for a second hyperscale data center.
Scheduled for September 15, 2026, Harworth's half-year results will provide further insights into its financial positioning and ongoing strategic initiatives. The board is prioritizing cost reductions to streamline operations, necessitating a formal response to shareholders regarding the takeover bid.
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