12th Nov 2019 13:51
(Alliance News) - Camelot Capital Partners LLC on Tuesday said its takeover offer for Synnovia PLC closed for acceptances on Monday and is no longer capable of being accepted.
Industrial components maker Synnovia agreed a GBP48.8 million takeover from funds managed by Camelot early in September. The offer price was 125 pence per share.
Synnovia shares were untraded Tuesday, last quoted at 124.10 pence each.
Camelot said it has secured valid acceptances in respect of 21.2 million Synnovia shares, representing over 94%, to which the offer related.
Synnovia is set to leave the London market on November 26. Camelot said it intends to re-register Synnovia as a private company following cancellation.
By Evelina Grecenko; [email protected]
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