Sign up for our email featuring expert insight and funding opportunities for entrepreneurs and SMEs Sign up

I would like to be emailed about offers, event and updates from Evening Standard. Read our privacy notice .

TT Electronics has accused shareholder DBay Advisors of having a “different agenda” in its decision not to back the British manufacturer’s planned £287 million takeover.

On Thursday, Woking-based TT Electronics said it had agreed a takeover approach by Swiss rival Cicor Technologies.

But soon after, its major investor DBay – which has a stake of around 16.5% – revealed it would vote against the 155p-a-share takeover, claiming it was “happy with the progress” TT Electronics is making and therefore would not be backing the sale.

TT Electronics revealed on Friday that D

See Full Page