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Equity

Brexit-weary funds thrilled by £1.66bn Melrose rights issue

Nortek Boston-Group_School-Cutaway_Color for web.

UK investors eager for North American exposure rushed to buy into Melrose Industries on Wednesday, pushing its shares up 46%, after it announced a heavily dilutive £1.655bn rights issue to finance the acquisition of Nortek, a US maker of heating and air conditioning systems.

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