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January 3, 1997updated 05 Sep 2016 1:05pm

SIEBE PAYS GEC 40M BRITISH POUNDS FOR SATCHWELL

By CBR Staff Writer

Companies announcing acquisitions usually see their share prices take a tumble, but Siebe Plc has won itself such a glorious reputation for making a success of whatever it buys that its shares made a new record high yesterday after it said it was paying 80m British pounds to GEC Plc for Satchwell Controls Ltd, adding 6.5 pence at 1,088.5 pence. Satchwell is characterized as the UK’s largest manufacturer and installer of industrial and commercial building automation systems.

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