UK's TT Electronics rejects offers from Volex and mystery suitor

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UK's TT Electronics rejects offers from Volex and mystery suitor - Channel News Asia

Quick Summary:

:Britain's TT Electronics said on Friday it had rejected a takeover proposal from an unidentified suitor that was higher than a 248.6-million-pound ($315.2-million) proposal - which it also rebuffed - from Volex Plc.

The company added it was not currently in talks with that party.

The company is facing operational issues and subdued demand in North America, with an increase in costs, and has signalled a slow recovery in group order intake through 2025.