Webuild said on 2 October it would keep its €4.50-a-share cash offer for Trevi unchanged, valuing the foundations specialist at about €295m. It instead cut its minimum acceptance threshold to just over 50%.
Market context
Icop had raised its rival exchange offer on 25 September; Webuild estimates that bid at roughly €3.40 a share. The contest is one of several mid-cap Italian tender battles running this autumn.
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