FTSE 250 doors and windows firm Tyman is backing a deal worth £788 million from US building products firm Quanex. The cash-and-stock offer represents a premium of around 40%.
After the deal Tyman "will become a wholly-owned subsidiary of Quanex", the firms said today.
Tyman, which can trace its roots back to 1838, is based in Queen Anne's Gate in Westminster and its shares have been listed in London for 25 years.
The £576 million firm whose CEO is Rutger Helbing - said today that its directors were unanimous in supporting the bid.
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