Ransomes agrees to pounds 83m offer
Tuesday 11 November 1997
"The combined group will contribute to Textron's growth objectives by leveraging our product technologies, manufacturing capacity, marketing and distribution networks and commercial financing capabilities."
Explaining why Ransomes had accepted the offer, its chairman, John Clement, said trading over the past 12 months "has highlighted the competitive and economic pressures faced by a business of its size and capital structure".
The offer represents a 107 per cent premium to Ransomes' share price on 20 August, the last day before the company said it had received a bid approach. Ransomes' shares closed at 57.5p, up 7.5p yesterday.
Mr Clement added that the combination Ransomes' and Textron's resources "should result in a business that is well positioned to compete successfully world-wide."
International Women's Day 2014: The shocking statistics that show why it is still so important
Feminist quotes to inspire you on the International Women's Day
Oscar Pistorius trial first week: Never mind a media scrum – murder case becomes bizarre safari following the tracks of a wounded lion
International Women’s Day: 'When a man gives his opinion, he's a man. When a woman gives her opinion, she's a bitch' - feminist quotes from female icons to inspire you
Malaysia Airlines plane: Hundreds feared dead as Vietnam air force finds oil slicks found in sea
Apple's Tim Cook: Business isn’t just about making profit
Thousands of young people forced to go without food after benefits wrongly stopped under 'draconian' new sanctions regime
Ukraine crisis: New navy chief 'defects' and surrenders Crimean HQ as Putin claims ultranationalists forced intervention
Britain's top vet sparks controversy with call for ban on slashing animals' throats in 'ritual' slaughters for halal and kosher meat products
Ukraine crisis: Russia dismisses '3am ultimatum' as 'total nonsense'
If you're horrified by a flame-roasted dog, you should be shocked at a hog roast
- 1 To those who can’t see the point of International Women’s Day: you are the very reason it exists
- 2 International Women's Day 2014: The shocking statistics that show why it is still so important
- 3 Saudi preacher who 'raped and tortured' his five -year-old daughter to death is released after paying 'blood money'
- 4 Orgasm machine to deliver climax at the push of a button
- 5 Liam Neeson turned down James Bond role because Natasha Richardson said she wouldn't marry him if he took it
iJobs Money & Business
£12000 per annum: Inspiring Interns: The company works with Tier 1 FTSE 100 Ba...
£32000 - £36000 per annum + generous benefits: Pro-Recruitment Group: * TAX * ...
£37000 - £40000 per annum + £20000 benefits package: Pro-Recruitment Group: **...
£30000 - £35000 per annum + generous benefits: Pro-Recruitment Group: Mixed Ta...