Loxam SAS, a European industrial equipment rental firm, has made a preliminary cash approach to buy Lavendon Group Plc, a British aerial work platform rental firm.
The move lays the grounds for a takeover battle with Belgian equipment supplier TVH Group, which recently proposed to buy Lavendon in a potential deal worth 348 million pounds ($435 million).
Loxam urged Lavendon shareholders not to take any action in support of TVH's offer as it was in talks with Lavendon over its potential offer, it said. It did not give the value of its offer.
