Brother Industries Ltd is set to buy Domino Printing Sciences Plc in a bid of £1.03 billion in cash, the companies have announced. This will give Domino shareholders 915 pence per share, 27% above the closing value on Tuesday.
Rising to a record 956 pence, shares in the company was the biggest gainer on the London Stock Exchange on Wednesday morning. A specialist in inkjet, laser and thermal printing technology, Domino was founded in 1978 and floated in 1985.
‘It has become increasingly clear that maintaining its position in the enlarged markets will require Domino to find the appropriate partner,’ commented Domino chairman, Peter Byrom.
