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Saint Gobain extends BPB bid timetable

French materials giant Saint Gobain is extending its £3.7 billion hostile takeover bid for plasterboard company BPB until November 13.
Saint Gobain, which is offering 720p a share for BPB, said that 0.7 per cent of shareholders had accepted its offer as of last Friday.

The Takeover Panel suspended the bid timetable earlier this month to allow the European Commission to consider whether the offer was anti-competitive.

Meanwhile BPB - fighting off the bid with plans to return £600 million to shareholders and increase dividends by 88 per cent -

announced its third acquisition in Mexican building plasters.

BPB is integrating El Tigre, based in Mexico City, into the company and commissioning additional capacity at its San Luis Potosi plant in early 2006.

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