RERMAG

Speedy May Seek Takeover Opportunity, Press Reports

Brandon Hire Plc said recently that it has received approaches that may lead to a takeover bid by top British tool rental company Speedy Hire plc. According to filings with British regulatory agencies, Speedy has built up a 1.6-percent stake in Brandon with three purchases this year.

British analysts said Speedy wants to expand and that Brandon, believed to be the fourth-largest British rental company, is the largest likely takeover candidate.

According to Bloomberg.com, Brandon acquired eight companies in 2005, building a network of more than 140 branches and a national footprint.

TAGS: Syndicate
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