Hellermann Tyton Group, which has large operations in both Wythenshawe and Plymouth, has received a take-over bid from a US group which values it at more than £1 billion.

Delphi Automotive (www.delphi.com) has suggested a recommended offer to acquire the business for 480p in cash per share, which translates to about £1.07 billion of market capitalisation.

Hellermann Tyton manufactures high-performance cable management products. These are designed for fastening, identifying, protecting, insulating, routing and connecting components in the electrical, automotive and datacom markets.

Kevin Clark, Delphi president and CEO, said: “With consumers now demanding more connectivity in their vehicles, electrical architecture is the enabler to that added vehicle content.

“Hellermann Tyton will enable Delphi to offer an even broader portfolio of highly engineered and customised connection systems and cable management solutions.

“By leveraging the combined capabilities of both companies, we will be able to capitalise on additional growth opportunities and create significant value for our customers and shareholders.”