A European consortium raised its bid for Westland.
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A spokesman for the consortium of European aerospace firms, Sir Raymond Lygo, chief executive of British Aerospace, told Westland shareholders to take no action on a joint bid by United Technologies’ Sikorsky unit and the Italian company Fiat until they had seen details of an improved consortium offer. Under the improved offer, the European consortium promised Westland a cash injection of $108 million, which is $1.44 million more than the latest deal offered by Sikorsky-Fiat.
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