Plessey Co Plc is ready to blow almost all the cash it will get from GEC Plc for its contribution to GEC Plessey Telecommunications Holdings Ltd on defence communications and navigation equipment maker Leigh Instruments Ltd of Ottawa, Ontario: Plessey’s offer, worth about UKP42.5m, is being recommended by Leigh, which rejected a lower offer from fellow Canadian IMP Group Ltd, Halifax, Nova Scotia; Leigh, which did about UKP4.5m pre-tax on turnover of UKP32m in the year to last June, is seen as having complementary technology to Plessey but also to be a way into the Canadian defence market for Plessey.
Content from our partners
