Tanfield receives offer on Smith Electric Vehicles

The Tanfield Group PLC has received a provisional offer on its electric vehicle division, Smith Electric Vehicles.
The offer is worth £37 million, equivalent to 50 pence per existing share plus a £33.3 million contingent credit fund prior to September 2015.
The non-binding, conditional offer comes from Smith Electric Vehicles US (SERVUS) which wishes to buy [...]
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