03:33 AM EDT, 09/18/2026 (MT Newswires) -- Property developer Harworth Group (HWG.L) said Friday that its board unanimously rejected Peel Bidco's increased takeover offer for the London-listed property developer. Peel Bidco raised the cash consideration of its takeover offer on Wednesday to 1.775 pounds sterling per share from 1.725 pounds per share. On Thursday, Peel Bidco acquired additional Harworth shares, taking its aggregate holding to 30%, triggering the conversion of its voluntary offer into a mandatory offer under UK takeover rules. Harworth Group's board determined that the revised offer is not in the best interests of shareholders and significantly undervalues the business and its prospects.

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