23 April 1999

Genus in VDC bid

GENUS, the leading cattle breeder and consultancy business, has made a £20.7m cash offer for animal health supplier VDC.

Directors of the two companies are understood to have been in talks for some time, but the VDC board said it was not in a position to recommend the 190p cash offer, which represents a 43% premium over the firms closing share price on Apr 13.

Genus is continuing to seek a recommendation, seeing VDC as an ideal business to set alongside its existing divisions. Genus OFEX-quoted share price rose 5p to 110p after the announcement. &#42