Harworth Group announced it has received an increased takeover approach from Peel Pepper (UK) Limited, offering 177.5 pence per share in cash, up from the previous 172.5p proposal.
The offer remains unrecommended by the Harworth board, which said there has been no engagement between Peel and Harworth during the offer period. The company is evaluating the revised proposal with its advisers Barclays and Peel Hunt, and legal counsel Allen Overy Shearman Sterling LLP.
Harworth stated it will make a further announcement when appropriate and urged shareholders to take no action, specifically not to sign or return acceptance forms, not to sell shares to Peel, and not to submit electronic acceptances.
The revised offer was detailed in a response document published on September 9, 2026, and the news was reported on September 16, 2026.
