Clash of the Titans

Titan Europe, a maker of steel wheels and other machinery components, saw its share price leap after it confirmed that it has received a bid approach from Titan International, which is operated by some members of the Titan Europe board.

As is usual in these announcements, Titan Europe warned that "there can be no certainty that a formal offer will be made for the company," and it also gave no clue as to what sort of terms any offer might include.

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The share price rose 14.82% to 129.75p by 10:20.

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