TT Electronics rejects two takeover proposals from Volex
15/11/2024 07:22
Nov 15 (Reuters) - Volex Plc VLX.L on Friday said TT Electronics
TTG.L declined to engage with and rejected two takeover offers it submitted to
the British electronic components maker.
Volex, the maker of power products and data connectivity cables, said the
latest cash and stock proposal valued TT Electronics at 248.6 million pounds
($315.18 million), while the first offer comprised 62.9 pence in cash and 0.203
new Volex shares per TT Electronics share.
($1 = 0.7888 pounds)
(Reporting by Shanima A in Bengaluru; Editing by Abinaya Vijayaraghavan
)
((shanima.a@thomsonreuters.com; (Direct: +91 72 5956 7774);))