AIM-quoted engineer Redhall has withdrawn from the bid battle for Mount Engineering after the engineering company recommended Cooper Industries' rival 82p a share bid. Cooper announced its bid, which values Mount at £19.2m, on 1 October. It is significantly higher than Redhall's bid of 70p a share - the price at which Mount joined AIM in July 2007. Redhall's bid was agreed and Mount was unable to recommend the Cooper bid immediately because of the terms of the previous deal. Redhall has decided that it is not worth increasing its offer but it reiterates that it is looking for earnings enhancing acquisitions. Redhall says trading for the year to September 2010 was in line with expectations. It is expected to report a profit of £6.9m and earnings per share of around 17p. The order book is at a similar level to June, when it was worth £130m. Redhall admits that uncertainties surrounding government spending make this year's trading difficult to predict. Strong oil and gas sector demand offset slow sales in nuclear, while defence revenues also grew. The process division remains depressed and the operations have been rationalised. There will be an exceptional charge for this rationalisation. Redhall's full year results will be published on 2 December.