Assetco, Fire Engine Owner, Rejects Second Bid, Times Reports

Assetco Plc (ASTO), the owner of London’s fire engines, has rejected a second takeover approach from an unidentified Arab investor, the Sunday Times reported, without saying where it got its information.

The investor offered 20 pence a share and repayment of some of the company’s debts, the newspaper said. The bid was rejected in favor of raising money from shareholders, the Times said.

To contact the reporter on this story: Kari Lundgren in London at klundgren2@bloomberg.net

To contact the editor responsible for this story: Will Kennedy at wkennedy3@bloomberg.net.

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