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UK Court Sanctions Fenner GBP1.20 Billion Takeover Deal With Michelin

Fri, 25th May 2018 12:32

LONDON (Alliance News) - Fenner PLC said on Friday that the High Court of Justice in England and Wales have sanctioned its GBP1.20 billion acquisition by Compagnie Generale des Etablissements Michelin SCA.

Fenner is a manufacturer of industrial belting and other polymer-based products.

The deal is due to become effective next Thursday, and Fenner's shares are expected to be delisted from the London Main Market next Friday.

In March, Fenner agreed to Michelin's offer of 610.00 pence per Fenner share which valued the firm at GBP1.20 billion. This compares to a market capitalisation of around GBP925.4 million based on its closing price the day prior to the deal being announced.

Shares in Fenner were up 0.1% at 609.00 pence on Friday.

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20 Mar 2018 10:37

WINNERS & LOSERS SUMMARY: Fenner Surges On Michelin Takeover Deal

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20 Mar 2018 06:02

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20 Mar 2018 05:47

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20 Mar 2018 05:29

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19 Mar 2018 17:54

UPDATE 1-French tyre maker Michelin to buy Britain's Fenner for $1.7 bln

March 19 (Reuters) - French tyre maker Michelin has agreed to buy British engineering company Fenner for 1.2 billion pounds ($1.68 billion) to increase its offering for mining and a

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19 Mar 2018 17:50

Fenner Agrees Takeover Deal With Michelin At Significant Premium

LONDON (Alliance News) - Fenner PLC said Monday it has agreed an all-cash takeover deal with Compagnie Generale des Etablissements Michelin SCA, valuing the company at is a of

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19 Mar 2018 17:35

French tyre maker Michelin to buy Britain's Fenner for $1.7 bln

March 19 (Reuters) - French tyre maker Michelin has agreed to buy British engineering company Fenner for 1.2 billion pounds ($1.68 billion) to increase its offering for mining and a

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19 Mar 2018 17:24

BRIEF-Michelin Says Agreed To Buy UK's Fenner In A 1.2 Bln Pound Deal

March 19 (Reuters) - Michelin: * CIE GEN ETA.MICHELIN - OFFER FOR FENNER PLC * RECOMMENDED CASH ACQUISITION OF FENNER PLC BY COMPAGNIE GÉNÉRALE DES ÉTABLISSEMENTS EACH

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17 Jan 2017 15:48

Director dealings: Fenner newcomer joins board buying

(ShareCast News) - New Fenner director Michael Ducey has joined with his new board colleagues in putting his money behind the plastics group, with a £84,000 purchase of shares. Ducey, whose appointment last week was at the request of major shareholder Teleios Capital even though it was initially res

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6 Jan 2017 07:39

Fenner sees FY results 'comfortably above' previous expectations

(ShareCast News) - Engineering group Fenner said on Friday that it expects results for the current financial year to be "comfortably above" previous expectations amid stronger order intake and improved customer enquiries. The company said trading in the first quarter has been satisfactory, reflectin

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23 Nov 2016 08:22

LONDON BRIEFING: Thomas Cook Reinstates Dividend Despite Tough Year

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16 Nov 2016 09:29

Fenner performs ahead of expectations

(ShareCast News) - Fenner, a British manufacturer of industrial belting and other polymer based products, performed better than expected in the face of challenging market conditions. Chief executive Mark Abrahams said: "The group's results were ahead of our expectations at the time of the Annual Gen

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16 Nov 2016 08:05

Fenner Loss Widens But Currency To Boost New Year Performance

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7 Nov 2016 09:29

BROKER RATINGS SUMMARY: JPMorgan Raises Price Targets For Miners

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