News on 10 January 2001
Land Securities’ acquisition of Trillium for £160m in cash and 680,000 shares in November last year (see News story) has been cleared by the Office of Fair Trading. The Secretary of State for Trade and Industry yesterday decided not to refer the merger to the Competition Commission under the provisions of the Fair Trading Act 1973.
Manish Chande, Trillium’s co-founder and chief executive commented on the completion of the acquisition: "Trillium as part of Land Securities is set to go from strength to strength. The business case for total property outsourcing is compelling and we are very optimistic about the prospects in both the public and private sectors."
It was agreed that Manish Chande would join the Land Securities Board and that Martin Myers, co-founder and executive deputy chairman of Trillium, would act as special adviser to the Board.
