ABC to Buy Auto Supplier TI Fluid for $1.3 Billion
- British company agrees takeover after several rejections
- Agreement is latest in wave of UK deals under new government
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ABC Technologies Holdings Inc., a Canadian auto parts maker, agreed to buy Britain’s TI Fluid Systems Plc for about £1 billion ($1.3 billion).
ABC, which is backed by alternative investment firm Apollo Global Management Inc., had made several previous offers for TI that were rejected. Bloomberg News reported earlier this week that the companies were nearing an agreement.