Nasdaq float for Smith Electric Vehicles

Published to the CV Show website on

27/08/2010

Smith Electric Vehicles US Corp says it go for a stock market flotation on the Nasdaq exchange, once it owns the Smith UK business. Smith US recently made a £37m offer to buy itself and the Smith UK business out of its parent firm, Tanfield Group Plc. Tanfield also says the terms of the deal have changed after it signed non-binding Heads of Terms with Smith US. This would combine the Smith UK and US operations, with Tanfield keeping an equity share in the new, global Smith business.
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