TI Fluid Systems plc (GB:TIFS) has released an update.
TI Fluid Systems plc is considering a revised all-cash acquisition proposal from ABC Technologies Inc. at 200 pence per share, after previously rejecting offers at lower prices. This latest proposal represents a substantial premium over recent average and closing share prices, and the company’s board is inclined to recommend it to shareholders if firm terms are agreed upon. An extension has been granted for ABC Technologies to complete due diligence and finalize the offer, with a new deadline set for 8 November 2024.
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