Michelin: finalises acquisition of Fenner PLC
(CercleFinance.com) - Fenner is now a 100%-owned subsidiary of Michelin, the French tyre make announced today.
Both companies reached an agreement on 19 March on the terms of a takeover bid, under which Michelin would acquire all of Fenner's shares, as part of a Scheme validated by Fenner's shareholders on 16 May, followed by the court on 25 May.
Its order has been sent to the Registrar of Companies, thereby certifying Michelin's takeover of Fenner PLC, a company specialised in reinforced polymer technologies.
This acquisition is bang in line with Michelin's aims to capitalise on its expertise in high-tech materials, the group said.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
Both companies reached an agreement on 19 March on the terms of a takeover bid, under which Michelin would acquire all of Fenner's shares, as part of a Scheme validated by Fenner's shareholders on 16 May, followed by the court on 25 May.
Its order has been sent to the Registrar of Companies, thereby certifying Michelin's takeover of Fenner PLC, a company specialised in reinforced polymer technologies.
This acquisition is bang in line with Michelin's aims to capitalise on its expertise in high-tech materials, the group said.
Copyright (c) 2018 CercleFinance.com. All rights reserved.