£1.3bn recommended cash offer from Michelin to acquire Fenner.

Michelin and Fenner announced a recommended cash offer for all shares of Fenner PLC, a global leader in conveyor belt solutions & reinforced polymer products. "Michelin values the skills, experience and industry knowledge of the Fenner group's management and employees. Mastering high-technology materials is key to creating value in the coming years. Fenner will enable Michelin to accelerate its growth in this area, and to strengthen its position as a key player in the recovering mining markets with a comprehensive offering", said Jean-Dominique Senard, CEO of Michelin.