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Deal implies TI Fluid enterprise value of about 1.83 bln

stg

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TI board intends to recommend shareholders vote for deal

(Adds detail and share price move, paragraphs 2,3,5)

Nov 29 (Reuters) - Automotive components supplier TI

Fluid has agreed to a 1.04 billion pound ($1.32

billion) takeover by Canada's ABC Technologies, expanding the

combined group's reach across the Americas, Europe, and Asia,

the British company said on Friday.

Shares in TI Fluid, which have surged more than 45% since

ABC Technologies' first takeover proposal in August, climbed 2%

to 193 pence in early trade.

London-listed TI, which has operations in 27 countries

including Canada, the United States and Mexico, , counts

automotive original equipment manufacturers as primary

customers, providing thermal solutions and fluid systems for

vehicle manufacturers across the world.

Apollo Global-owned ABC Technologies' offer at 200

pence per share represents a 53.4% premium to TI Fluid's 130.4

pence closing share price on Aug. 21 before ABC's initial

proposal.

Toronto-based ABC Technologies is a global manufacturer and

supplier of components to the global automotive industry.

The deal implies an enterprise value of about 1.83 billion

pounds for TI Fluid, which raised guidance in August for

full-year adjusted operating profit margin expectation of more

than 7.6%, up from 7.4% previously.

The company's board said it intends to recommend that

shareholders vote in favour of the deal.

($1 = 0.7860 pounds)