Rolling coverage of the latest economic and financial news
The London Stock Exchange’s mid-sized FTSE 250 index is due to lose one of its manufacturing members to a US takeover.
Tyman, a member of the FTSE 250 that makes door and window components, will be bought by a US rival Quanex in a £788m cash and shares deal, the two companies annoucned this morning.
In the context of a rapidly evolving North American marketplace, our board ultimately determined that this transaction is the best path to maximising value for Tyman shareholders, who will be able to realise a meaningful portion of their holding in cash at a significant premium to the prevailing share price while also participating in the future upside of the enlarged group.
“Our business plan focuses on our customers’ priorities. As part of the usual ongoing discussions relating to PR24 [Thames’s business plan], we’ve now updated it to deliver more projects that will benefit the environment.
We will continue to discuss this with our regulators and stakeholders.”
Continue reading…Rolling coverage of the latest economic and financial newsThe London Stock Exchange’s mid-sized FTSE 250 index is due to lose one of its manufacturing members to a US takeover.Tyman, a member of the FTSE 250 that makes door and window components, will be bought by a US rival Quanex in a £788m cash and shares deal, the two companies annoucned this morning.In the context of a rapidly evolving North American marketplace, our board ultimately determined that this transaction is the best path to maximising value for Tyman shareholders, who will be able to realise a meaningful portion of their holding in cash at a significant premium to the prevailing share price while also participating in the future upside of the enlarged group.“Our business plan focuses on our customers’ priorities. As part of the usual ongoing discussions relating to PR24 [Thames’s business plan], we’ve now updated it to deliver more projects that will benefit the environment.We will continue to discuss this with our regulators and stakeholders.” Continue reading…
