A TAKEOVER battle is set to be launched for Biffa with three more late bids to take control of the company rumoured to be coming in.
Yesterday the waste management company, who have their headquarters in Cressex, announced to the London Stock Exchange a £1.2 billion takeover deal with a consortium led by equity firm Montagu Funds.
But today media reports suggest that within hours of the agreement being announced, three other consortiums said they were also set to make rival bids for Biffa at the eleventh hour.
Yesterday's bid meant shares in the company would be purchased at 350p each, but Biffa are reportedly holding out for a better offer to come in.
Following yesterday's announcement, share prices rose by nearly 12 per cent.
Biffa collects household waste from over a million homes throughout the UK.
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