BPB/Saint-Gobain Not bored with plaster

Takeover battles are sometimes compared with dances. So far, Saint-Gobain’s £3.6bn offer for BPB is much more of a minuet than a tango. The French materials conglomerate’s offering document has neither fiery accusation of lost value from the current management nor extravagant claims of additional value that it could bring to the company. It provides only the equivalent of a polite bow – three graphs to show that its 720p price is quite generous. Saint-Gobain has good reasons to step carefully. ...