Notes to the accounts
32 Events after the balance sheet date
On 21 March 2007, Smiths Group plc and General Electric Company announced that they had conditionally agreed to form a joint venture to be named Smiths GE Detection, of which Smiths would have had a 64% share and management control. After careful consideration, the two parties were unable to agree on a strategic vision for the combined business and on 19 September 2007 decided not to proceed to form the joint venture. Included within the accounts are costs of £12.7m.