Chelsfield says no other offers on the table

Property investment Chelsfield PLC said it has so far failed to attract alternative takeover offers for the company after it rejected a bid from a consortium led by chairman Elliot Bernerd. At the same time, the group said it remains open to offers.

Chelsfield said Bernerd´s bid of 305 pence per share in cash has been rejected by the group´s independent directors 'as they believe that it may not fully reflect the long term value of Chelsfield.'

'Discussions are progressing with the consortium with a view to securing a more attractive proposal for Chelsfield shareholders,' it said, but added: 'There can be no assurance that any offer will be forthcoming.'

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