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EU inquiry deadline into Apollo Management buy of Countrywide May 4


Published : Thu, 29 Mar 2007 10:55
By : Agencies
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BRUSSELS (AFX) - The European Commission said the deadline for its inquiry into Apollo Management LP's proposed 1.01 bln stg takeover of Britain's biggest estate agency chain Countrywide PLC is set for May 4.

The deal will be examined under the EU's simplified merger review procedure for cases that the commission believes do not pose competition concerns.

Apollo's offer is worth 510 pence a share in cash, plus 0.16487 Rightmove PLC shares for every Countrywide share held.

Countrywide owns 21.5 per cent of Rightmove, Britain's leading property website.

nina.chestney@thomson.com

nc/cml

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