The Daily Post, 19th January, 2006, reports Nippon Sheet Glass has increased the price it is prepared to pay to buy Pilkington. According to reports circulating in the City yesterday, NSG has increased its offer to £1.60 a share, valuing the St Helens glassmaker at £2.2bn. The Nippon Sheet Glass Company, which owns almost 20% of the 180-year old Merseyside firm, has already had two indicative offers worth £1.97bn and £2.08bn turned down by the Pilkington board. But reports yesterday said Pilkington chairman, Sir Nigel Rudd, and the rest of the company's board, would now back the latest offer. Analysts believe Nippon could generate savings from combining its UK subsidiary NGF Europe with the headquarters of Pilkington, as they are both based in St Helens.
