UK's TT Electronics rejects offers from Volex and mystery suitor
Shares in TT Electronics, which makes electrical components, jumped as much as 54% to 121.5 pence on news of the bid interest, while Volex stock was down about 11%. Volex, which makes power products and data connectivity cables, earlier said TT Electronics had rejected two of its proposals. The second comprised 62.9 pence in cash and 0.223 new Volex shares for each TT Electronics share, and valued TT stock at 135.5 pence apiece based on Volex's closing price on Oct. 31.