RWS Holdings PLC - language support services firm - Says its all-share combination with peer SDL PLC has been sanctioned by a court in the UK. The combination will be implemented through a court-sanctioned scheme of arrangement. SDL and RWS have previously noted all the conditions for the combination, other than the court hearing, have been satisfied. Shares in SDL will be suspended from trading Wednesday, and new RDL shares will be issued Thursday. Back in August, the two unveiled plans for an all-share tie-up with a view of creating "the world's leading language services and technology group". Under the terms of the deal, SDL shareholders will be entitled to receive 1.2246 new RWS shares for each SDL share they own. RWS shareholders will hold just over 70% of the enlarged firm, with SDL shareholders just shy of 30%.
Current RWS stock price: 548.00 pence
Year-to-date change: down 10%
Current SDL stock price: 666.00 pence
Year-to-date change: up 12%
By Paul McGowan; paulmcgowan@alliancenews.com
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