Electronics companies at the negotiating table in £200million deal
Recent rumours circulating about a takeover of the marine electronics giant, Raymarine, have received added credibility thanks to stories in the Sunday papers, according to IBI magazine.
Garmin, the $10billion international electronics company, has been acquiring its European distribution companies in recent months, as speculation grew about possible offers coming in for Raymarine.
However, despite the uncertain economic outlook, several private equity companies are also interested in purchasing Raymarine, valued at about £200million.
Both companies’ share value rose on the London Stock Exchange as a result of the news over the weekend – with Raymarine’s gaining more than 10%.
Raymarine’s annual general meeting is due to take place at the end of this week.