BAe decides not to match GEC bid for VSEL
British Aerospace yesterday backed out of a bidding war for U.K. shipbuilder VSEL, withdrawing its offer in the wake of a higher bid from Britain's General Electric Co. (GEC). BAe had already upped its offer for VSEL to around 17.45 pounds per share (DAILY, June 6, page 369). But GEC jumped in with...
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