Reuters Legal Intelligence • UK M&A Takeover Panel

Harworth & Peel Takeover Valuation & Offer Analyzer

Evaluating Peel Holdings' £599.77M ($801.5M) sweetened proposal against Harworth Group portfolio Net Asset Value (NAV).
Scenarios:
Takeover Defense Advisory Board Recommendation Reject / Undervalues Assets
Offer trades at a steep discount to verified portfolio NAV.
Offer Amount (USD)
801.50M
at 1.3363 USD/GBP
Implied NAV Discount
16.1%
vs £715M portfolio NAV
Fair Value Gap
£115.23M
Undervaluation residual
Effective Offer / Share
185.7p
323.0M fully diluted shs

M&A Valuation Parameters

Offer Amount (£ Millions) £599.77M
£450M Sweetened £599.77M £900M
Estimated Portfolio NAV (£ Millions) £715.00M
£500M Harworth NAV £715M £950M
FX Rate (USD per 1 GBP) 1.3363
$1.15 1.3363 (Reuters) $1.45
Strategic Target Premium (%) 25.0%
0% (Par NAV) 25.0% Premium +50%
Reuters Legal Reporting: Peel Holdings, owning approx 27.8% of Harworth Group, submitted a sweetened cash offer of £599.77M ($801.5M). Harworth's board rejected the advance, concluding it substantially undervalues long-term land regeneration and industrial development pipelines.

Valuation Bridge & Asset Discount Analysis Interactive Visual Breakdown

FX & Valuation Sensitivity Matrix

FX Rate (USD/GBP) Offer (£M) Implied Value ($M) NAV Discount Gap (£M) Status
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