Gossip in City parlours has it that Cray Electronics Holdings Plc is back in the frame to buy Case or the entire Information Technology division of Dowty Group Plc – but direct from Dowty rather than as a good turn to a bidder that did not want to keep the data communications equipment and services arm; you pays your money and you takes your choice in these matters, and another piece of market gossip has Smiths Industries Plc offering 185 pence a share in cash for Dowty.
