Peel unit reaches 61% stake in Harworth Group takeover bid

Peel Holdings Group Limited, a controlling entity through its subsidiary Peel Pepper (UK) Limited, has secured or is close to securing a significant stake in Harworth Group plc. As of Thursday, the company or its associates have received valid acceptances for approximately 61.43% of Harworth Group's issued shares, totaling around 200,709,637 shares.

This represents about 61.38% of Harworth's total issued shares. BidCo, acting in conjunction with Peel, has received confirmations for 2,214,795 shares, or roughly 0.68% of Harworth's outstanding shares, from 97,888,439 shares from other sources. The offer's current value is 187 pence per share. The Harworth Board has endorsed the proposal, deeming it fair and reasonable.

The takeover bid became compulsory on September 17, 2026, following the acquisition of 30% of Harworth's voting shares. Shareholders have until October 25, 2026, to accept the offer. Rothschild & Co Global Markets Solutions Limited is facilitating the purchase of shares for BidCo at or below the offer price. The offer's initial price was set at 172.5 pence per share on August 6, 2026, and was later raised to 177.5 pence on September 16, 2026.