PDL buyer named

This week PDL was asked by the NZSE to explain why its share price had jumped 50 cents in trading on Monday to $5.70, but it had no explanation.

The jump followed an earlier stand in the market by French electrical firm, Schneider, which offered $5.20 per share.

Schneider's offer was a $1.30 premium to PDL's recent prices.

PDL says Clipsal Industries has not advised exactly how many shares they have bought.

Singapore-based Clipsal Holdings is a listed company with close ties to the Australian-based company of the same name.

Clipsal in Australia claims to be one of the top five electrical accessories brands in the world and has interests in a number of other areas including kitchenware, printing and packaging and wineries.

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