ENGINEERING company TI Group unveiled a #267m acquisition of aircraft engineer EIS Group yesterday, a further step in efforts to bolster growth through bolt-on buys.
TI said the deal would help drive earnings growth towards the ''low double-digits'' and that the EIS businesses had much potential for margin and efficiency gains.Under the terms of the acquisition, TI will pay 505p per share for EIS, which has businesses in fluid technologies and aircraft components. The deal represents a 46% premium on Monday closing level for EIS shares, which stood at 346p.
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