LATE SEPTEMBER SAW shares for The Morgan Crucible Co. PLC trade as low as 277.5p as investors exhibited fears that takeover talks for the 1 50 year old UK refractories producer had stalled. It was reported that Morgan Crucible has been in talks with DU, the private equity firm of Credit Suisse during mid-September. Expectations were that Morgan Crucible would be purchased at around 315p a share, valuing the company at 924 million founds. However, DLJ was apparently keen to cut its offer and then negotiations faltered.
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