Titan seeks to gain control of Titan Europe (again)
ERJ staff report (DS)
London - Titan Europe has confirmed that it has been approached once more by Titan International to open discussions on the possible acquisition of Titan Europe by the US company.
In a carefully worded statement, the board of Titan Europe said, â€œThere can be no certainty that a formal offer will be made for the Company or the terms on which such an offer may be made.â€ Nevertheless, Titan Europe is taking the approach seriously enough to form an Independent Committee of the Board to consider any possible proposal.
According to Stock Exchange rules, Titan Inc has to declare its intention to make a full bid or announce its withdrawal from the process within 28 days - specifically by by 5.00 p.m. on 14 August 2012. The deadline can be extended, but under very specific circumstances.
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Statement from Titan Europe