As a consequence the company is no longer in an offer period.

The group said in May it had received a takeover approach and confirmed in June it was still in talks with just one group, having opened its books to a small number of parties. The group in question was unnamed but market rumours were that US giant General Electric was the bidder.

In June FKI said it would focus on its energy sector activities and sell its underperforming Hardware and FKI Logistex businesses as it posted a 7 per cent fall in annual profit.