THE two-way battle for control of engineering group Domnick Hunter was over last night.
Filtration specialist Domnick Hunter, which is based in Birtley, near Chester-le-Street, looks set to be sold for £251m after Parker Hannifin won the bidding war.
Its rival suitor, Eaton Industries, conceded defeat, saying it was not prepared to increase its offer of 690p per share to match fellow transatlantic group Parker, and said it would allow the offer to lapse today.
Domnick Hunter said that its board had agreed the terms of Parker Hannifin's latest offer, and that it was not in discussion with any other party with regard to an offer for the company.
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