Berendsen's board recommends Davis offer

4 May 2002


Denmark: The Sophus Berendsen board of directors has recommended that shareholders accept an offer from Davis Service Group plc.

The offer is for DKK247 (¤33.22) per share with an adjustment for any dividend prior to settlement.

In making its recommendation, the board of directors has looked at a number of factors and has decided that the offer has several attractions.

Together, the two companies would create a strong platform and resources for consolidating the European textile services industry.

Further, Davis has a strong track record and the skills needed to operate textile services. Combining the two groups would allow an exchange of best practices, benefiting customers, employees and the combined group.

The offer from Davis represents an attractive price, a premium of 53% compared with the last quoted price before the recent ISS offer and a 51% premium compared with the average quoted price for the 30 days before the ISS announcement.

The board has also taken an opinion from Goldman Sachs International, financial advisors.

• With effect from April 2, Berendsen has acquired Mors Matservice. The company operates on Zealand and the Jutland peninsula and has a turnover of around DKK11million (¤1.47million). Of its mat business, about 80% will now be integrated with Berendsen's centres in Karup and Ishoj, and garment service with Berendsen's other centres on Zealand.



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