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FTSE jumps as BPB gives in to French takeover

The London market advanced today as shares in BPB, the world's largest plasterboard maker rose 4 per cent to record highs, after it ditched its opposition to being taken over by French giant Saint-Gobain.
BPB rubber-stamped an improved deal of 775p a share, Saint-Gobain's final offer for the company, up 100p on the original offer it first made on July 22. BPB advised shareholders to reject an improved offer of 720p in August.

The bid values BPB at almost £3.9 million, bringing an end to the UK's biggest hostile takeover campaign in years and the first in construction for four years. Shares advanced 27.5p to 769p on the news.

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