HellermannTyton (HTY) sent markets into ecstasy after US car parts manufacturer Delphi Automotive's eagerness to capitalise on increasing demand for vehicles that connect to the web saw it table a mouth-watering £1.1bn bid. At 480p in cash per share, the deal represents a 44 per cent premium to Hellermann's prior day closing price, sending shares in the maker of products for protecting, routing and fastening cables soaring 42 per cent.
As one of the world's largest suppliers of components and software designed to make cars safer, better connected and more environmentally efficient, Delphi has been busy expanding its exposure to the connected cars megatrend. Another sweetener was the opportunity to tap into Hellermann's other sectors, such as aerospace and defence.
