TI Automotive Ponders New Bid
TI Automotive Ltd. has postponed a vote on a planned $2 billion sales to Bain Capital Partners so it can review a new offer from London-based Pamplona Capital Management, according to Bloomberg News.
Unnamed sources tell the news service that Pamplona is offering about $115 million more than Bain for the global automotive fluid handling systems supplier. None of the involved parties is commenting.
TI and Bain, which have been in talks for months, were close to a deal, according to Bloomberg.
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