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Cobham ShareCast News (COB)
ShareCast News for Cobham (COB)
| Share Price: 281.20 | Bid: 281.30 | Ask: 281.40 | Change: 0.00 (0.00%) |  | ||||||
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Cobham extends Thrane offer period
Tue, 22nd May 2012 07:42
Defence technology group Cobham has extended the offer period for shareholders in Danish satellite communications outfit Thrane and Thrane to sell up.
The FTSE 250 firm has pushed the deadline for Thrane's shareholders to sell their shares by four weeks to 18 June as it deals with merger paperwork.
"Following the Thrane and Thrane board's 3 May decision to support and facilitate Cobham's offer detailed information has been provided, resulting in an additional merger clearance filing," the firm said.
"The extension of the offer period provides further time to secure the customary merger clearances."
Early in May Cobham offered DKK435 (Danish Krone) in cash for each Thrane share, an increase of DKK15 per share over its initial offer.
The offer was subject to Cobham obtaining more than 50% of Thrane & Thrane's outstanding share capital and Cobham has already succeeded in this.
The FTSE 250 firm has pushed the deadline for Thrane's shareholders to sell their shares by four weeks to 18 June as it deals with merger paperwork.
"Following the Thrane and Thrane board's 3 May decision to support and facilitate Cobham's offer detailed information has been provided, resulting in an additional merger clearance filing," the firm said.
"The extension of the offer period provides further time to secure the customary merger clearances."
Early in May Cobham offered DKK435 (Danish Krone) in cash for each Thrane share, an increase of DKK15 per share over its initial offer.
The offer was subject to Cobham obtaining more than 50% of Thrane & Thrane's outstanding share capital and Cobham has already succeeded in this.
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