Peel Holdings Sweetens Harworth Group Bid to GBP600 Million

03:15 AM EDT, 09/16/2026 (MT Newswires) -- Peel Holdings Group said Wednesday it increased its takeover offer for Harworth Group (HWG.L) to 1.775 pounds sterling per share in cash, valuing the London-listed property developer at 600 million pounds. The Harworth board had rejected the infrastructure investor's previous offer of 1.725 pounds per share, saying it "fundamentally undervalues" the property developer and its prospects. Peel Holdings urged Harworth's shareholders to accept the revised offer, saying the target "is facing significant operational and structural challenges, including declining [net asset value], higher leverage, a capital constrained balance sheet, worsening cashflow, lower sales volumes, and a new strategy that lacks credibility in that context."