London, England, February 25—-According to the Financial Times, the CVC venture capital group has increased its offer for Forbo, the Swiss industrial specialities group, from SFR 330/share to SFR 350-370 a share.
The bid translates to Forbo's value of SFR 455-481 M. The Swift adhesives business was purchased by Forbo from Reichhold at the end of 2001, almost doubling its size.
CVC Capital Partners was permitted by Forbo to carry out a due diligence assessment, although other companies have conveyed interest. The Forbo board is allowing other bids before a Feb 25, 2005 deadline.
