A second major British business in two days has decided to throw in the towel on life as an independent publicly quoted company in London after accepting a takeover bid from a foreign bidder.
Oxford headquartered TI Fluid Systems, which makes brakes, cooling and climate control fluid carrying systems and fuel tank systems for many of the world’s biggest motor manufacturers today said it had agreed a 200p a share offer from Canada’s ABC Technologies. The deal values the 102 year old target at £1.04 billion.
