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U.K. firm Melrose (MLSPF.PK) makes a preliminary £1.3B ($2.1B) offer for embattled tool...

U.K. firm Melrose (MLSPF.PK) makes a preliminary £1.3B ($2.1B) offer for embattled tool and equipment maker Charter (CHITY.PK). The £7.80 a share bid is a 30% premium to Charter's closing price on Monday. News of the approach sends Charter's shares surging 27% to £7.79 in London.
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