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August 24, 1988

FARNELL IN AGREED $11m BID FOR WAYNE KERR

By CBR Staff Writer

Farnell Electronics Plc has made an agreed bid for Wayne Kerr Plc, valuing the Bognor Regis electronic test equipment manufacturer at UKP11.6m. The offer is 110 pence a share cash with a three-for-two share exchange alternative that values Wayne Kerr’s shares at 100 pence on Tuesday’s closing price. Farnell already holds 10%, and irrevocable acceptances take it up to 52.2%, making it a done deal.

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