PLESSEY’S DEFENCE AGAINST GEC BID WAS EXPENSIVE

Plessey Co Plc’s vigorous defence against the bid from GEC Plc paid off – now come the bills: the company has agreed an out-of court settlement which the Financial Times believes is around UKP60,000 and apologised to GEC for misleading and incorrect statements about one of GEC’s subsidiary contained in a defence document to its shareholders.

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