UK's TT Electronics jumps on rejecting second Volex takeover bid

Volex

15/11/2024 08:35

** Shares of TT Electronics  TTG.L  jump nearly 38% at 109p,
stock at over a two-month high 
    ** Electronics technologies firm rejects two takeover
proposals from Volex Plc  VLX.L  
    ** VLX, a maker of power products and data cables, said
latest cash-and-stock proposal valued TTG at 248.6 mln pounds
($315.18 mln)
    ** Offer at premium of 76.7% to TTG's last close of 79.0p
    ** Volex  VLX.L  down 9% at 312.5p, lowest since May 1, 2024
    ** As of last close, TTG down ~49.42% YTD, VLX drops ~2.04%
YTD  
    
   

 (Reporting by Ankita Bora in Bengaluru)
 ((Ankita.Bora@thomsonreuters.com))