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Titan halts Europe unit acquisition talks

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Titan International Inc. has discontinued talks regarding a potential offer to buy the outstanding shares of its Titan Europe plc division.

 

Titan released an official statement today, Sept. 11, that states "on April 12, 2008, Titan International Inc. filed a preliminary proxy regarding a potential offer for an exchange of stock to be made with Titan Europe plc for all or a partial amount of 51% or more of Titan Europe's outstanding ordinary shares.

 

"On Sept. 10, 2008, the Titan International board of directors notified Titan Europe plc that they were discontinuing discussions on the potential offer for Titan Europe plc."

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