UK car parts firm TI Fluid Systems bought by Canadian rival in latest overseas takeover
by Mark Sweney from on (#6SK1T)
Up to 2,700 jobs worldwide likely to be cut at London-listed company, including at its base in Oxford
The car parts maker TI Fluid Systems has become the latest London-listed firm to succumb to an overseas takeover, in a 1bn deal.
The takeover by Canada's ABC Technologies includes cutting as many as 2,700 staff globally, 10% of its workforce, and staff levels at its headquarters in Oxford will be reduced by a third.
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