Shares in the UK defence group had slumped by up to16 per cent on Tuesday after the defence group announced its full-year operating profit would be £15m lower than expected.
Yesterday’s close price of £3.26 a share was down more than a fifth compared to the £4.14 the stock hit after Carlyle announced its interest.
The company, which is based in Fareham, England and makes countermeasures for protecting air, sea and land-based platforms from threats, has a current market value of about £640m.
Carlyle made a “highly preliminary expression of interest” earlier this month, and has until 14 September to either make a firm bid for the business or withdraw.
Defence companies have become prime takeover targets in recent years as governments around the world rein in spending on defence budgets.
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