UK: MORE CONCERN AT TI AND SMITHS MERGER

Article Abstract:

Investors are voicing increasing concern over the GB[pound] 4bn integration between UK-based engineering businesses, TI Group and Smiths Industries, with the latter seeing its offer reduced by another GB[pound] 80mn on 19 September 2000. Smiths Industries has seen its share price fall over the past two days by 16% and over GB[pound] 400mn cut from its market capitalisation. An institutional shareholder has queried the point of the deal with regard to Smiths Industries' shareholders and the feeling is the merger has not much fundamental appeal.

Aircraft & Parts, Aerospace Product and Parts Manufacturing, Rubber & Plastic Products, Plastics and Rubber Products Manufacturing, Aircraft and Parts, RUBBER AND MISC. PLASTICS PRODUCTS, Plastics industry, Aircraft industry, Rubber industry, Smiths Industries

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UK: SMITHS & TI MERGER BACKED BY SHAREHOLDERS

Article Abstract:

Shareholders of the UK-based company Smiths Industries and TI Group, , have approved plans to merge the two companies in a deal worth GB[pound] 3bn. Under the terms of the agreement Smiths' shareholders will own a 57.6% stake in the merged group.

Smiths Industries PLC

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Siebe and BTR unveil plans for 9.4bn pounds sterling merger

Article Abstract:

The planned 9.4 billion pounds sterling merger of engineering concerns Siebe and BTR will create the largest manufacturer of process control and automation equipment in the world. The merger is set to produce savings of 250 million pounds sterling a year after three years, with 5,000 jobs being cut from a combined workforce of 125,000. Siebe shareholders will hold 55% of the new group, and three of the top five positions will be taken by Siebe executives.

Comment:

Has planned merger with Siebe PLC

Parent-to-subsidiary activities, Measuring & controlling devices, not elsewhere classified, Other Measuring and Controlling Device Manufacturing, Measure & Control Eqp NEC, Measuring instruments, Control equipment industry, BTR PLC, Siebe PLC

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