BAE counter-bid for Alvis outmanoeuvres GD

摘要

BAE Systems is poised to become the UK's national champion in land systems as well as air and sea platforms with its last-minute, ￡355 million ($654 million) counter bid for armoured vehicle manufacturer Alvis, edging out rival General Dynamics (GD). The board of Alvis is backing BAE's bid as "fair and reasonable" and is recommending shareholders to accept it, reversing their earlier backing of GD. BAE's bid came on 3 June -just days before GD's deadline for shareholders to accept its offer. In response to BAE's bid, GD effectively conceded defeat by declining to "revise or extend" its ￡309 million bid beyond 7 June.