Colfax to buy Charter for $2.4 b

 US group Colfax is to buy British toolmaker Charter International for an agreed £1.53 billion ($2.4 billion) in cash and shares, after beating off rival bidder Melrose (NYN.L) with a 910 pence per share offer.

Charter, which makes tools & equipment, had opened its books to long-time suitor Melrose two weeks ago after British manufacturing buyout firm sweetened its approach with an 850 pence offer.

DH Newsletter Privacy Policy Get the top news in your inbox
Comments (+)