P516 ORACLE 516 Sun 5 May C4 2020:01   NEW HADEN BID  A near £56m management buy-out offer for the Haden engineering company, to top the £37m takeover bid from Trafalgar House, has been announced. Backed by a group of city institutions Haden's management is making a consortium bid worth £360p a share in cash, 120p more than Trafalgar's bid. It is the first time in the UK that a management buy-out deal has been launched as part of a takeover battle. Trafalgar chief executive Eric Parker said the new offer looked "expensive". Business headlines p402 Index p500 MARCONI SPACE SYSTEMS REQUIRE STAFF see RECRUITMENT........ on page 498