TI lays out red carpet

By Daily Mail Reporter
Updated: 00:00 BST, 6 March 1999

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King Henry and his Barbarians have arrived in the boardroom of TI, one of Britain's oldest 工学 groups.

US buyout specialist and 法人組織の／企業の raider Kohlberg Kravis Roberts is 支払う／賃金ing £94m for a 4.9pc 火刑／賭ける. 創立者 Henry Kravis joins the board.

TI chairman Sir Chris Lewinton laid out a welcome for the 搭乗 party, in contrast to the 敵意を持った 歓迎会 KKR いつかs receives. He said its 財政上の muscle and acumen would give TI extra 'firepower' to 開始する 取引，協定s.

KKR has the 評判 of a ruthless 塀で囲む Street 操作者. Its £20bn てこ入れ／借入資本d buyout of RJR Nabisco in 1989 was chronicled in the best 販売人, Barbarians at the Gate. A keen party animal, Kravis would be 迎える／歓迎するd at victory parties by 元気づけるs of 'make way for King Henry'.

Lewinton said: 'We have known them for over 10 years. They approached us at Christmas. They thought we were undervalued. The 株 火刑／賭ける is a little glue between us.'

Kravis said: 'We 計画（する） to work closely to 器具／実施する their 取得／買収 計画（する）s.'

TI spent £750m on 引き継ぎ／買収s last year. 分析家s say KKR could help 上げる its spending to at least £1bn. Lewinton said no 的s were in sight, but other engineers must be in the でっちあげる，人を罪に陥れる.

TI 株, 負かす／撃墜する from 620p last year, jumped 34 1/2p to 445p. KKR, which is buying new 株 at 400p, has agreed not to go above 9.9pc.

TI 報告（する）／憶測d 1998 pre-税金 利益（をあげる）s 7pc up at £238m, with （株主への）配当s 8pc better at 17.2 pc.

Orders are ahead of last year.