Defence and engineering group Babcock International announced that it has made a takeover approach for rival VT Group, which has been rejected.
Babcock International Group Plc, which maintains Britain’s submarine fleet, said its offer to buy VT Group Plc for approximately £1.14bn was rejected by the UK defence services company. Babcock bid the equivalent of 633.9 pence in cash and stock for each share of VT Group — 25% more than VT’s closing price yesterday, according to…
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