The Wall Street Journal-20080205-Melrose PLC- Investor Approaches FKI About Takeover

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Melrose PLC: Investor Approaches FKI About Takeover

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British industrial investor Melrose PLC said it had approached FKI PLC about a possible takeover that values the engineer at about GBP 412 million, or some $810 million. Melrose said the possible offer would value each FKI share at 70 pence and that an offer, if made, would be a mix of cash and shares. Melrose said it made the approach on Jan. 31. FKI, whose products include steel rope, generators and hinges, said Friday an unnamed suitor had approached it.