Grace's Guide is the leading source of historical information on industry and manufacturing in Britain. This web publication contains 133,751 pages of information and 211,898 images on early companies, their products and the people who designed and built them.
1988 GEC and Siemens AG set up a jointly held company, GEC Siemens plc, to launch a hostile takeover of Plessey. GEC Siemens' initial offer was made on 23 December 1988 valuing Plessey at £1.7 billion. Plessey rejected the offer and it was referred to the MMC. The original proposal envisaged joint ownership of all of Plessey's defence businesses, with GPT and Plessey's North American businesses split in the ratios 60:40 and 51:49 respectively. The level of GEC's involvement in the Plessey defence businesses was not likely to meet with regulatory approval.
1989 After reference to the MMC, in February GEC Siemens announced a new bid. The takeover was completed in September 1989.