Carlton Communications Plc yesterday launched a UKP513m all-paper agreed bid for UEI Plc to create the UK’s largest and a world scale leader in electronic products and services for the visual and print media markets. Following last year’s acquisition by Carlton of Tecnicolor Inc, the addition of UEI will add the world-acclaimed Quantel series of Paintbox and other image manipulation systems for television companies, the Miles 33 computer-based pre-print systems, the Solid State Logic movie sound equipment business – and the Cosworth motor racing engine business. Carlton is widely expected to sell some bits of UEI, notably Cosworth, but chairman Michael Green insisted yesterday that no companies are for sale. The market was less than kind to Carlton – while UEI shares leaped 113 pence to hit 662p, Carlton shares shed 60 pence to 789p before recovering a little later in the day. Details, p5.
