Another offer was made for Westland.
The European consortium battling for a stake in Britain’s Westland helicopter company made a new offer designed to win over small shareholders who might otherwise opt for a rival U.S.-led bid. Lloyds Merchant Bank said it was offering, on behalf of the three continental European consortium members, to buy up to 12.63 million shares at $1.82 a share. This would give the consortium 16.15 million, or 27.2%, of all Westland shares. Competition for near-bankrupt Westland is between the consortium and Sikorsky, a division of the United Technologies of the United States, which is working with Fiat of Italy.
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