12.12.2016 08:39:09
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Teledyne Agrees To Buy E2v For About GBP 619.6 Mln - Quick Facts
(RTTNews) - Teledyne Technologies Inc. (TDY) Monday said it has reached agreement on the terms of a recommended cash acquisition of e2v technologies Plc. (E2V.L) for approximately 619.6 million pounds. Under the terms of the acquisition, each e2v Shareholder will be entitled to receive 275 pence in cash.
Teledyne, through its wholly-owned, indirect subsidiary, Rhombi Holdings Limited, will buy e2v by way of a Court-sanctioned scheme of arrangement.
The acquisition price represents a premium of approximately:48.2 percent to the closing price of 185.5 pence per e2v Share on December 9, being the last Business Day prior to the date of the announcement.
In addition, e2v Shareholders who were on the register at close of business on November 18 will be entitled to receive and retain an interim dividend of 1.7 pence per e2v Share.
The e2v Directors consider the terms of the deal to be fair and reasonable, and accordingly, intend to recommend unanimously that e2v Shareholders vote in favour of the deal.
The cash consideration payable to Scheme Shareholders under the deal terms will be funded from an acquisition debt facility provided by Bank of America, N.A.
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