Invensys swerves rights issue


Invensys was one of a host of names, including BA, Rolls
Royce and ICI, that were widely rumoured to be planning rights issues in the first quarter of 2002, due to liquidity pressures. However, of these names only ICI has tapped the market to date, with a £808 million deal, and the rush by companies to increase their share capital seems to have subsided as many have reassessed their strategies.

Rick Haythornthwaite, chief executive of Invensys, dismissed speculation that the engineering group

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