Giles outlines provisional offer for CBG

Money give take

The offer is subject to due diligence and the CBG board's recommendation (the "pre-conditions").

Giles' statement on the London Stock Exchange said: "This potential offer price represents a 54.2% premium to the share price as at the close of business on 19 July 2011. The pre-conditions are waivable at Giles' discretion."

It added: "This announcement does not amount to a firm intention to make an offer and accordingly, there can be no certainty that any offer will be made for the company even if

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