LucasVarity soars on bid news

Wednesday 27 January 1999 00:02 GMT

Your support helps us to tell the story

From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.

At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.

The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.

Your support makes all the difference.

SHARES IN LucasVarity soared yesterday as the car and aerospace parts group edged closer to a pounds 4bn cash takeover by the US giant TRW, after rebuffing a pounds 3.9bn bid from Federal Mogul, another US engineer.

The stock closed the session more than 17 per cent higher at 286p as the market awaited Federal Mogul's decision on whether to raise its cash and paper offer. Analysts said that TRW, one of the world's largest producers of steering systems, could be close to offering around 290p a share for the company. LucasVarity said it would make an announcement later this week but declined to comment further.

Join our commenting forum

Join thought-provoking conversations, follow other Independent readers and see their replies

Comments

Stay up to date with notifications from The Independent

Thank you for registering

LucasVarity soars on bid news

Join our commenting forum

Thank you for registering