UPDATE 1-Valmont says offer price for Delta final; agrees to div

* Delta to pay second interim div of 4.8p for 2009

* Valmont says dividend an addition to offer price

* Says received support from key Delta investor

* Extends offer till 1pm, April 19

* Delta shares down more than 1 pct
(Adds details)

April 1 (BestGrowthStock) – U.S.-based Valmont Industries Inc
(VMI.N: ) said it agreed with Delta Plc (DLTA.L: ) for the payment
of a second interim dividend but stuck to its original offer
that values the British industrial engineer at about 284.5
million pounds ($431.8 million).

Delta, which has been seeking strategic outcomes to handle
complexities related to its size and pension plan, will now pay
a second interim dividend of 4.8 pence for 2009.

On Wednesday, Delta said a third party that approached it
regarding a potential rival offer to Valmont’s earlier bid had
decided to discontinue talks. [ID:nSGE62U09S]

Valmont said its offer price of 185 pence in cash for each
Delta share will not be raised, unless a third-party offeror
approaches Delta, and that the dividend payment was an addition
to the offer price.

“The board firmly believes that the final offer by Valmont
presents a most attractive opportunity for shareholders and we
strongly recommend that shareholders support this offer,” Delta
Chairman Steve Marshall said in a statement.

Valmont said it had already got the support of Delta’s
largest shareholder, Aberforth Partners, for the offer. The
maker of lighting poles and support structures extended its
offer till April 19.

Delta shares were down more than 1 percent at 188.25 pence
at 0723 GMT on Thursday on the London Stock Exchange.
(Reporting by Aditi Samajpati in Bangalore; Editing by Maju
Samuel)

UPDATE 1-Valmont says offer price for Delta final; agrees to div