TI Fluid Systems Rejects Takeover Bid

TI Fluid Systems plc (GB:TIFS) has released an update.

TI Fluid Systems plc has publicly rejected a second unsolicited proposal from ABC Technologies Inc. to acquire all shares at 176 pence each, following a previous offer at 165 pence per share. The board unanimously decided the offer undervalued the company, despite it being a 20.7% premium over the closing share price prior to the bid rumors. Shareholders are advised to hold off on any action as the company remains confident in its strategy and future prospects.

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