Oct 12 (Reuters) - TI Fluid Systems said on

Saturday it had received an increased offer of 200 pence ($2.61)

per share from Canada's ABC Technologies to acquire the British

automotive components supplier.

London-listed TI, which has operations in 27 countries

including Canada, the U.S. and Mexico, confirmed receiving a

fifth all-cash proposal from Apollo Global-owned ABC

Technologies on Oct. 10.

TI said that it remains confident in its strategy, adding

that its board would recommended the offer to shareholders.

The UK's takeover panel has granted the Canada-based

manufacturer an extension under "put up or shut up" takeover

rules for due diligence, financing and for the negotiation of

definitive deal, TI said in a statement.

ABC Technologies has until 5 p.m. GMT on Nov 8 to either

announce a firm intention to make an offer for TI Fluid Systems

or not.

"There can be no certainty that a firm offer will ultimately

be made for TI Fluid Systems by ABC Technologies," the statement

said.

In August, TI Fluid raised its full-year adjusted operating

profit margin expectation to over 7.6% from 7.4% previously.

TI Fluid shares closed on Friday at 152.2 pence.

($1 = 0.7653 pounds)