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IN BRIEF: AdePT agrees acquisition by Thetis Bidco for GBP50.3 million

Wed, 08th Feb 2023 16:01

AdEPT Technology Group PLC - Kent, England-based managed services and telecoms provider - Agrees with Thetis Bidco Ltd on terms of GBP50.3 million cash offer for its entire share capital, to be implemented via a scheme of arrangement. Each AdEPT shareholder is entitled to 201 pence per share, representing a premium of 75% to the closing price of 115p per share on February 7.

As part of the acquisition, AdEPT has cancelled its interim dividend of 2.50p for the six months ended September 30. If the transaction does not complete, the board says it will reinstate the dividend.

Current stock price: 200.00 pence, up 74% in London on Wednesday afternoon

12 month change: down 8.3%

By Holly Beveridge; Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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AdEPT Telecom: WH Ireland moves target price from 170p to 185p, keeping its buy recommendation. Northland moves target price from 165p to 175p and maintains a buy recommendation. Betfair: JP Morgan raises target price from 1175p to 1350p and upgrades from neutral to overweight. BHP Billiton: JP Mor

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