Carlyle says won't be bidding for UK's Chemring
Nov 7 (Reuters) - Carlyle Group said on Wednesday it will not make an offer for British defence equipment maker Chemring Group Plc, just days ahead of the deadline for the private equity company to make a firm bid or walk away.
Carlyle's announcement comes weeks after Chemring replaced its chief executive, raising doubts about a deal, and just days after the maker of flares and explosive device detectors issued a profit warning.
Chemring shares were down 16 percent at 239.22 pence on the London Stock Exchange.
- Ukraine says Russian tanks flatten town; EU to threaten more sanctions |
- Polish president warns Germany of Putin's 'empire' ambitions
- F-16s dispatched for unresponsive pilot of small plane near D.C.
- EU wields Russia sanctions threat but timing vague |
- Pressure mounts on Pakistan leader to quit as protests continue