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A&O Shearman is advising Harworth in relation to the recommended GBP632 million offer from the Peel Group

A&O Shearman is advising Harworth in relation to the recommended GBP632 million offer from the Peel Group
Published Date
Sep 28, 2026
Related people
Image of Matthew Hamilton-Foyn
Matthew Hamilton-FoynPartner, London
Image of Akshay Naran
Akshay NaranSenior Associate, London
Image of Charles Ashie
Charles AshieAssociate, London
Image of Toluwa Agboola
Toluwa AgboolaAssociate, London
Image of Max Brankin
Max BrankinAssociate, London
image of Mahesh Varia
Mahesh VariaPartner, London
Image of Betty Lorimer
Betty LorimerAssociate, London
Image of Suzanne Horne
Suzanne HornePartner, London
Image of Jessica McIntosh
Jessica McIntoshSenior Associate, London

A&O Shearman is advising Harworth Group plc (Harworth) in relation to the recommended increased best and final cash offer of 187 pence per share from Peel Pepper (UK) Limited, a company indirectly wholly owned by Peel Holdings Group Limited (the Peel Group), valuing Harworth at approximately GBP632m. 

The offer was initially launched as an unrecommended offer at 172.5 pence per share, which was increased to 177.5 pence per share and converted into an unrecommended mandatory offer under Rule 9 of the Takeover Code, before being increased to 187 pence per share and recommended by the Board of Harworth on September 25, 2026. 

Harworth is a leading regeneration, strategic land and development business whose portfolio is located across Yorkshire, the Midlands and the north-west of England. The Peel Group is one of the UK's leading investors across real estate and infrastructure related sectors. 

The A&O Shearman team is led by M&A partner Matt Hamilton-Foyn and senior associate Akshay Naran and includes associates Charles Ashie, Toluwa Agboola and Max Brankin. Specialist advice was provided by partner Mahesh Varia and associate Betty Lorimer (Incentives), and partner Suzy Horne and associate Jess McIntosh (Employment). 

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