Sept 14 (Reuters) - Canada's ABC Technologies Holdings

proposed a revised buyout of London-listed automotive components

supplier TI Fluid Systems at 176 pence ($2.31) per

share on Sept. 4, the companies said on Saturday.

Canada-based manufacturer ABC said TI Fluid's board had

rejected the offer. ABC added it remains interested in a

possible transaction and is considering its position.

On Aug. 22, an initial proposal of 165 pence per share was

made, which was also rejected by the TI Fluid's board, the

company said.

TI, which is listed in London but has operations in 27

countries including Canada, the U.S. and Mexico, confirmed

receiving the second non-binding cash proposal from ABC

Technologies but said its board rejected it.

"The board considered the proposal in detail with its

advisers and unanimously concluded that it significantly

undervalued TI Fluid Systems and its prospects," the company

said in a statement on Saturday.

TI Fluid's board is unlikely to seriously consider an offer

below about 200 pence-a-share, Sky News reported on Friday,

citing a source.

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

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

($1 = 0.7621 pounds)