Wagon picks up Hawtal for a song.(UK Wagon, Hawtal Whiting Engineering Limited)(Brief Article)

UK Wagon has reached agreement with the Administrative Receivers to acquire certain assets of the UK business of Hawtal Whiting Engineering Limited and the issued common stock of Hawtal Whiting's US subsidiary, Hawtal Whiting, Inc. (not in receivership) for an initial consideration of 4million [pounds sterling]. In addition, Wagon has agreed to assume approximately 3.7million [pounds sterling] of external borrowings of Hawtal Whiting, Inc. and to make further payments to the Administrative Receivers of up to 375,000 [pounds sterling] depending on the value of the assets transferred. The deal marks Wagon's third attempt to buy Hawtal, having first approached the company over a …