Eliza Tinsley bid for James Dickie

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The Independent Online
Eliza Tinsley bid for James Dickie

THE SPECIALIST engineering group, Eliza Tinsley, has made a recommended all-share bid for James Dickie, valuing the engineering firm at pounds 14m. The offer values each James Dickie share at 155p, against its Thursday closing price of 128.5p.

Eliza Tinley said it has been approached with acceptances by shareholders representing 26.6 per cent of James Dickie. The offer is being made on the basis of 41 offer shares for every 25 James Dickie shares, Eliza Tinsley said.