NORCROS REJECTS 542.2 MLN STG BID FROM WILLIAMS
Norcros Plc <NCRO.L> the building
products and packaging group said its board had no hesitation
in unanimously rejecting this morning's 542.2 mln stg bid from
<Williams Holdings Plc>, the industrial holding firm.
    The company said Williams' 432.7p per share offer was
unsolicited and unwelcome and significantly undervalues
Norcros. By 1228 gmt Norcros shares were quoted at 418p, up
from 397p at yesterday's close. Williams was 15p higher at 765.
    The Norcros board's detailed views will be sent to
shareholders when the formal offer document has been issued by
Williams.
 REUTER
