Wednesday, February 6, 2008

FKI

"Engineering group FKI held up well, slipping just ¼ to 65¾p. On Monday, rival Melrose said it had made a preliminary approach about buying the company at 70p a share. Dealers noted that Friday marks precisely six months since a previous suitor walked away from the company. That bidder, thought to have been US private equity group Blackstone, had made an approach at around 130p a share. Melrose rose 2¼ to 151¾p."

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/02/06/cxmktrep106.xml