(Reuters) – Apollo Global-owned ABC Technologies Holdings has proposed a buyout of London-listed automotive components supplier TI Fluid Systems for more than 800 million pounds ($1.05 billion), Sky News reported on Friday.
Canada-based ABC Technologies has offered a 180 pence-a-share deal, the report added.
TI Fuild’s board is unlikely to seriously consider the offer unless it’s about 200 pence-a-share, Sky News reported, citing a source.
ABC Technologies and TI Fluid did not immediately respond to Reuters’ requests for comments, while Apollo Global declined to comment.
In August, TI Fluid raised its full-year adjusted operating profit margin expectation to over 7.6% from 7.4% previously.
($1 = 0.7618 pounds)
(Reporting by Harshita Meenaktshi in Bengaluru; Editing by Mohammed Safi Shamsi)
