UK: Coats Says Yes To £414m Takeover Bid
Industrial thread manufacturer Coats Plc on Thursday announced it had accepted a £414 million takeover bid from a group of shareholders led by UK investment company Guinness Peat Group Plc. The company, which earlier this year sold its unprofitable Jaeger and Viyella fashion brands for a nominal sum, said the deal, which followed an approach last month, was worth 58.5 pence per share in total.
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