Volex turns up the heat on TT Electronics takeover

Volex (VLX) chair Lord Rothschild has turned the heat up on TT Electronics (TTG) to get its board to engage with his takeover approach.

Volex has thus far submitted two potential cash-and-share offers to TT’s board, both of which were dismissed as “fundamentally undervaluing TT Electronics and its long-term prospects”. TT’s board also said they had previously rebuffed a higher all-cash offer.