Laird shares fall on suitor's price stance

Shares in electrical products maker Laird fell 7 per cent to 190p after its US suitor Cooper Industries said it was still open to talks but would remain "disciplined" on the price.

Laird last month rejected a £493m – or 185p a share – approach from Cooper calling it too low and "opportunistic".

The Takeover Panel has ruled Cooper must table a formal bid or walk away by 1 August.

Even after yesterday's fall, Laird's shares are still up more than a third since news of Cooper's interest emerged.