British Press Speculates on Pilkington, Nippon Deal
According to press reports, the board of directors of UK glass manufacturer Pilkington has privately backed a 2.2 billion-pound ($3.9 billion) cash offer for the world's largest maker of car windshields from Nippon Sheet Glass Co.
Several publications are now speculating that the St. Helens-based company is in the early stages of accepting the offer from its smaller Japanese suitor, which already owns a significant amount of the companys stock.
Even though the negotiating between the two companies has been on-going for some time, now, with the expectation that the framework of a deal has been reached, it is still assumed it will be a few weeks before anything happens. (See following item.)
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