UK - Morgan Crucible to be next private equity target?
According to a report in the Financial Times today, the industrial ceramics and defence materials maker Morgan Crucible has disclosed that it has received a takeover approach.
The company has not said who has made the approach, although commentators have suggested that it must be private equity since all Morgan Crucible's rivals are much smaller than it is. After a difficult period in 2002-3, the company has bounced back and now has a market value of £827m.
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