Shares in Tanfield are motoring after the group received a conditional offer for its electric vehicles business from its US partner.
Smiths Electric Vehicles US – established by Tanfield in 2009 – is now offering £37m in cash for all its electric vehicle assets. This includes the UK business, as well as the 49% Tanfield owns in Smiths US, and licensing and intellectual property rights. It would leave Tanfield with its access business.
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Source: guardian.co.uk
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