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Shares in mining services company Ludowici Limited (ASX:LDW) rose at the end of last week after Danish engineering group FLSmidth increased its takeover offer.
FLSmidth raised its bid to acquire all of Ludowici’s shares at $11.00 per share on Friday after Scottish bidder Weir Group offered $10 per share on Thursday.
The board of Ludowici is considering the revised offer.
Shares in Ludowici closed more than 13 per cent higher on Friday at $11.01.
In the half year to June 30, 2011 Ludowici posted a net profit of $4.1 million.
