Peel Holdings to Launch Mandatory Cash Offer for Harworth Group

09:58 AM EDT, 09/17/2026 (MT Newswires) -- Peel Holdings is now required to launch a mandatory cash offer for the remaining Harworth Group (HWG.L) shares it does not already own, after recent market purchases pushed its stake to 30%. The infrastructure and property investment company first announced an offer of 1.725 pounds sterling per Harworth share on Aug. 6, before increasing the offer to 1.775 pounds per share on Wednesday. The mandatory offer will be made at the same consideration as the increased offer, according to a Thursday release. Under the mandatory offer, Peel Holdings unit Peel Pepper (UK) needs to secure acceptances that would give it control over 50% of Harworth's voting rights for the offer to become unconditional. If Peel Pepper (UK) secures more than 75% of Harworth's voting rights, the bidder will proceed with cancelling the target company's shares from trading on the London Stock Exchange's main market.