Pinsent Masons advises Elphinstone Group on takeover bid

Elphinstone Group is currently the largest shareholder in Engenco Limited and the all-cash, off-market deal will see Elphinstone Group purchase the remaining shares in the company. The takeover bid was launched today. 

Elphinstone Group is the distributor of Caterpillar OEM Solutions and a leading manufacturer of products for global underground and surface mining. 

The Pinsent Masons team advising on the matter is Corporate partner James Stewart and special counsel Roger Hawkins and Madison Smith. 

Commenting on the matter, James Stewart said: ‘We are very pleased to be advising Elphinstone Group on this strategic takeover bid.’ 

‘This takeover bid points to a growing trend for majority shareholders to address low liquidity or trading volume issues by making a bid for that company that allows other stakeholders to exit their investment. This is the second such takeover bid Pinsent Masons has advised on in recent months and we expect to see more in the future.’