In a report from Sky News, it was revealed that the Edwards Group, which is based out of Sussex, is the subject of a GBP1 billion takeover bid. Edwards is listed at the NASDAQ and is in the process of discussing the terms of the deal with its buyer, Atlas Copco.
Atlas Copco is a Swedish conglomerate and the announcement can come as soon as next week. The Edwards Group on the other hand manufactures high pressure vacuum pumps, whose financial performance is closely watched in Britain.
This pending sale comes at the heels of the GBP3.4 billion purchase of Invensys by Schneider Electric of France. Invensys is another pillar in the industrial manufacturing market in the United Kingdom.
One of the major concerns regarding the Swedish firm's takeover of the British company is the possible closure of any factories or other offices located in the UK. This fear though was allayed by one banker, as such a decision would be unlikely to come from Atlas Copco.
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