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Sophos Shares To Be Cancelled In February As US Takeover Nears

Thu, 13th Feb 2020 09:33

(Alliance News) - Sophos Group PLC, which is the object of an agreed GBP3 billion takeover offer from a US private equity firm, on Thursday said its last day of trading on the London Main Market will be on February 27.

The cybersecurity company agreed to a takeover offer from Surf Buyer Ltd, a newly formed company owned by Thoma Bravo LLC, in October.

Thoma Bravo offered USD7.40 per Sophos share.

Sophos was trading 0.3% higher at 570.30 pence each in London on Thursday morning.

The scheme of arrangement for the takeover still needs to be sanctioned at a court hearing, penned to take place on February 25. The delivery of the court order will then need to be made to the Registrar of Companies, based in Cardiff, Wales.

The company expects the scheme to be effective from Thursday, February 27. Its shares will be suspended from trading that morning before being cancelled the following day.

By Eric Cunha; ericcunha@alliancenews.com

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