UK's TI Fluid Systems jumps after rejecting ABC Technologies' buyout proposal
16/09/2024 08:23
** Shares of automotive fluid storage maker TI Fluid Systems
TIFS.L jumps 14.5% to 167p, its highest since late-March
** Stock top gainer on FTSE mid cap .FTMC which is down
0.12%
** Co on Sept. 14 rejected Canada-based manufacturer ABC
technologies' revised 176 pence/share buyout proposal
** Says the proposal significantly undervalued co and its
prospects
** TI Fluid is unlikely to seriously consider a proposal
unless it is pitched at around 200 pence-a-share, Sky News
reports
** As of last close, stock down 5.2% YTD, compared to 6%
gain in FTSE mid cap index
(Reporting by DhanushVignesh Babu in Bengaluru)
((DhanushVignesh.Babu@thomsonreuters.com;))