UK's TI Fluid hits over 2-1/2-year high on ABC Technologies' $1.32 bln takeover offer
29/11/2024 08:29
** TI Fluid TIFS.L climbs 2% to 193p, highest level since
April 2022
** Stock has surged more than 45% since Aug. 21, ahead of
ABC Technologies' first takeover proposal
** Co to be acquired by Canada's ABC Technologies for 1.04
bln pounds ($1.32 bln)
** ABC Technologies' offer price of 200p is 53.4% premium to
TIFS' close on Aug. 21, before ABC's initial proposal
** Deal implies TIFS' enterprise value of ~1.83 bln pounds
** As of last close, stock up ~23% this year
($1 = 0.7861 pounds)
(Reporting by DhanushVignesh Babu in Bengaluru)
((DhanushVignesh.Babu@thomsonreuters.com;))