Chemring takeover deadline extended
Chemring has said US private equity firm Carlyle has been granted another extension to the 'put up or shut up' deadline to hammer out an offer for the defence equipment maker.
Chemring has said US private equity firm Carlyle has been granted another extension to the 'put up or shut up' deadline to hammer out an offer for the defence equipment maker.
The UK Takeover Panel has extended until November 9th the deadline for Carlyle to table a firm bid for Chemring or walk away. The deadline was to expire on Friday.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Sharecast reported previously that its biggest investor, Invesco, which controls nearly 30% of Chemring's shares, is understood to have given tacit support for a bid from Carlyle, the American buy-out giant. The fund manager's backing raises the possibility that Britain could lose another large defence group to foreign investors.
CM
-
‘Sandwich generation’ carers losing £6,000 a year to support elderly relativesMiddle-aged adults are often caught between caring for children or grandchildren and their elderly parents, leaving them taking time out of the workforce and facing a huge hit to wages while they are still trying to save for retirement. We look at the true cost of caring.
-
Ground rents to be capped at £250 a year – what does it mean for you?The government has published draft legislation which would see ground rents capped at £250 per year for leaseholders. We examine what it means for homeowners and the housing market.
