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Cobham ShareCast News (COB)
ShareCast News for Cobham (COB)
| Share Price: 287.20 | Bid: 286.80 | Ask: 287.00 | Change: 0.00 (0.00%) |  | ||||||
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Cobham secures majority of Thrane and Thrane
Tue, 8th May 2012 14:48
Defence technology group Cobham says that the acceptance conditions set out in the terms of its revised offer for Danish satellite communications outfit Thrane and Thrane have now been satisfied.
Since announcing last week that Thrane & Thrane shareholders will be offered DKK435 (Danish Krone) in cash for each share, an increase of DKK15 per share over Cobham's initial offer, the firm acquired a further 159,000 Thrane & Thrane shares, respecting 2.7% of its fully diluted share capital.
The offer is subject to Cobham obtaining more than 50% of Thrane & Thrane's outstanding share capital. Cobham now owns or has received undertakings in respect of a total of 2,978,934 shares, representing 50.1% of the company.
The newest offer values the share capital of Thrane & Thrane, a manufacturer of equipment and systems for global mobile communication, at around £275m, a 2.6% increase from the initial offer.
"The offer expires on May 21st 2012 unless extended in accordance with the offer document," Cobham said.
Shares were up 1% at 222p by 15:11 on Tuesday.
BC
Since announcing last week that Thrane & Thrane shareholders will be offered DKK435 (Danish Krone) in cash for each share, an increase of DKK15 per share over Cobham's initial offer, the firm acquired a further 159,000 Thrane & Thrane shares, respecting 2.7% of its fully diluted share capital.
The offer is subject to Cobham obtaining more than 50% of Thrane & Thrane's outstanding share capital. Cobham now owns or has received undertakings in respect of a total of 2,978,934 shares, representing 50.1% of the company.
The newest offer values the share capital of Thrane & Thrane, a manufacturer of equipment and systems for global mobile communication, at around £275m, a 2.6% increase from the initial offer.
"The offer expires on May 21st 2012 unless extended in accordance with the offer document," Cobham said.
Shares were up 1% at 222p by 15:11 on Tuesday.
BC
Monday broker round-up UPDATE
Alent: Credit Suisse initiates with a target price of 430p and an outperform rating.[Mon 08:32]
London pre-open: FTSE to edge higher in early trade
City sources predict the FTSE 100 will open up two points from yesterday's close of 6,694, rising modestly after stronger gains in the US overnight.[16 May '13]
Cobham wins extension to B717 QantasLink contract
Defence technology company Cobham has been awarded an extension of its current B717 QantasLink contract through to 2018.[16 May '13]
London pre-open: Stocks to edge higher ahead of balance of trade report
City sources predict the FTSE 100 will open up seven points from yesterday's close of 6,593, and as such largely ignoring declines seen in the US last night ahead of today's balance of trade reading.[10 May '13]
Cobham acquires Axell Wireless
Defence technology group Cobham has acquired Axell Wireless, a privately-owned supplier of wireless communications for commercial and public safety markets.[10 May '13]
Thursday broker round-up UPDATE
Alkane Energy: Liberum Capital initiates with a target price of 44p and a buy recommendation.[9 May '13]
ITV CEO sells 2.3m shares post exercise
A round-up of the biggest director deals today so far.[30 Apr '13]
Cobham throwing off cash as RAF project takes off
Defence technology group Cobham confirmed trading remained on track with strong cash conversion in the first quarter.[25 Apr '13]
