Pilkington clears acquisition offer

Nippon Sheet Glass has agreed to acquire glassmaker Pilkington for £1.8 billion.


Nippon Sheet Glass (NSG) has agreed to acquire glassmaker Pilkington for £1.8 billion. St Helens-based Pilkington will become a wholly-owned subsidiary of NSG.



NSG’s offer is for 165 pence in cash per share, an increase from its previously rejected offer of 158 pence. NSG already owns 20% of Pilkington.



The Japanese company said the combined companies would become a global leader in the flat glass industry with the largest market share in the world.



NSG said it aims to complete the acquisition in late June.