Canada's ABC Technologies Acquires UK-Based TI Fluid Systems for £1 Billion

The deal reflects a 53% premium on TI Fluid Systems' share price and highlights challenges for UK-listed firms in the global automotive sector.

TI Fluid Systems, a UK automotive components supplier, has agreed to a £1.04 billion takeover by Canada's ABC Technologies.
The acquisition price of 200p per share represents a 53% premium to TI Fluid Systems' share price before the initial bid in August 2024.
TI Fluid Systems cited ongoing global automotive sector challenges and undervaluation of its long-term potential as reasons for accepting the deal.
ABC Technologies, owned by Apollo Global Management, aims to expand its global footprint and product offerings through the acquisition.
The deal follows a series of UK-listed companies being targeted for foreign takeovers, raising concerns about the competitiveness of London’s stock market.