China in auto power play
It might not shake up the industry just yet, but China's interest in Volvo and Saab is the start of something big in global autos, writes columnist Wei Gu. Commentary
Blackstone hires bank for possible FKI bid-paper
LONDON (Reuters) - U.S. private equity group Blackstone (BX.N), which last year walked away from bid talks with FKI FKI.L, has hired bankers to examine making a counter bid for the engineering group, the Sunday Telegraph reported.
Blackstone has recruited Credit Suisse to evaluate an offer for FKI after rival bidder Melrose Plc (NYN.L) raised its cash-and-shares bid proposal to 500 million pounds ($1 billion), worth some 82.1 pence a FKI share, which came after a 70p initial approach from Melrose in early February.
FKI and Blackstone were not immediately available to comment.
