Westminster no intention of making Pentagon offer

Company News

Westminster no intention of making Pentagon offer

Tue, 01 December 2009

Security systems provider Westminster Group said it has no current intention of making an offer for Pentagon Protection.

The announcement comes after Westminster made a preliminary bid approach to the window film provider last month.

Pentagon said at the time that the indicated offer was at a level which, in the opinion of the Pentagon board, substantially undervalues the company.

Westminster’s offer terms placed a value on Pentagon shares that was considerably lower than the prevailing market price at the time the approach was made; since news of the bid approach became public.

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