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Melrose Sounds Out Charter Investors Over Possible Bid, FT Says

Sept. 24 (Bloomberg) -- Melrose Plc has approached Charter International Plc shareholders about scuppering Colfax Corp.’s 1.5 billion-pound ($2.4 billion) bid, the Financial Times said, citing an unidentified person familiar with the matter.

While Charter’s board backs the Colfax offer, its two biggest shareholders, Aviva Plc and Schroders Plc, see Melrose as the best manager for the company’s assets, the newspaper reported.

The board of Charter, Europe’s biggest welding-equipment maker, may provide informal support for an improved Melrose offer at 5 pence to 10 pence less per share than Colfax’s, according to the newspaper.

To contact the reporter on this story: Caroline Alexander in London at calexander1@bloomberg.net.

To contact the editor responsible for this story: Andrew J. Barden at barden@bloomberg.net.

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