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Candover returns with fresh Expro bid

By FT Reporters

Published: May 23 2008 17:28 | Last updated: May 23 2008 17:28

The battle over Expro International took a fresh twist on Friday after a consoritum led by private equity group Candover increased its offer for the UK oilfield services group, trumping a rival proposal from Halliburton of the US.

Umbrellastream, a consortium led by Candover and which includes Goldman Sachs Capital Partners and AlpInvest Partners, said it was offering £15.50 a share, which had been unanimously recommended by Expro’s independent directors.

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