Next M and A target takeover29 Nov 2024 11:43
Over the last couple of days, though, the trend has been firmly in favour of companies leaving the market via M&A. This morning, car parts manufacturer TI Fluid Systems has agreed terms on a £1bn takeover by Canada’s ABC Technologies, which is backed by private equity giant Apollo, first announced last month. Insurer Aviva has reached out directly to Direct Line shareholders after the latter turned down a £3.3bn approach this week. Rumours of bid interest have pushed up shares in Spire Healthcare. And Fortress Investment Group now has backing representing 41.9 per cent of Loungers’ shares for its £350mn acquisition of the hospitality business, albeit some major holders have said they will vote against