John Laing Infrastructure Fund Share News (JLIF)

(Sharecast News) - John Laing Infrastructure Fund updated the market on the planned acquisition of it by Jura Acquisition on Wednesday - a transaction initially announced on 3 August.The FTSE 250 fund said that under the terms of the offer, scheme shareholders would be entitled to receive 142.5p in cash for each scheme share.In addition to the consideration payable in connection with the offer, JLIF shareholders who held shares on the dividend record date of 7 September would also be entitled to receive the payment of a dividend of 3.57p for each JLIF share, for the six-month period ended 30 June.The terms of the offer, including the pre-close dividend, value each JLIF Share at 146.07p per share and JLIF's entire issued and to be issued ordinary share capital at approximately £1.45bn."The board of JLIF confirms that since the announcement it has not received any competing proposals from any third party potential offerors and is not currently in discussions with any third party regarding a competing proposal," it announced on Wednesday.Its directors, who had been advised by J.P. Morgan Cazenove and Rothschild, said they considered the terms of the offer to be fair and reasonable."Accordingly, and noting the announcement today by Jura Acquisition confirming that its offer of 142.5p in cash for each JLIF share is final and the offer price will not be increased, the JLIF directors continue to recommend unanimously that JLIF shareholders vote or procure votes in favour of the resolutions relating to the scheme at the meetings."It was intended that the offer would be implemented by way of a court-sanctioned scheme of arrangement under Part VIII of the Companies Law of Guernsey.The scheme would require approval at a meeting of scheme shareholders convened by order of the court, and the passing of a special resolution by JLIF shareholders at its general meeting.