Johnston Group, which has received a controversial cash-and-share offer from Ennstone, has been approached by other interested parties, an adviser to the construction company has revealed.
Johnston's independent directors yesterday called on shareholders to take no action while they reviewed Ennstone's offer document and investigated "other possible options to maximise value for shareholders". Ennstone's offer, which at yesterday's closing price values Johnston at £48.3m or each share at 446¾p, has the endorsement of the Johnston family, which controls more than half of the share capital.
