Chloride accepts 1.5 bln dlr Emerson takeover bid

2nd July 2010, Comments 0 comments

British power systems group Chloride said on Friday that it was recommending shareholders to accept a 997-million-pound (1.228-billion-euro, 1.506-billion-dollar) takeover bid from US industrial technology company Emerson.

Emerson's offer trumped one from Swiss group ABB, which pulled out of the bidding on Thursday.

Chloride employs about 2,500 people and posted sales of 336 million pounds in the year ending March 31, 2010.

© 2010 AFP

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