News blog
Hartest Holdings
- BY: Andrew Hore |
- POSTED: 08/10/2009 |
Delta Controls says that it plans to launch a 50p a share bid for instrumentation supplier Hartest Holdings.
Share in Hartest jumped 11p to 46.5p a share, which values Hartest at £4m. The bid values Hartest at £4.3m.
Delta has approached Hartest’s board and reserves the right to lower the bid price with the agreement of the Hartest board. Hartest says that 50p a share is not enough.
The 50p a share bid is double the proposed bid by Elektron and a partner. That was announced in July but, at the end of August, the partners decided not to go ahead with the bid.
Delta Controls is a private company owned by its management and was founded in the early 1950s. Delta supplies flow control, temperature, transmitter and pressure gauge products. Delta believes the two businesses would fit well together.
www.delta-controls.com
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