4th Dec 2018 17:19
LONDON (Alliance News) - Communisis PLC on Tuesday said court approval for its acquisition by OSG Group Holdings Inc has now been granted.
US-based billing, communications, and payment solutions provider OSG will pay GBP153.8 million in cash for Communisis, which it is acquiring through its takeover vehicle OSG Bidco Ltd.
The acquisition will be effected via a court approved scheme of arrangement, the court having now issued its order.
The scheme is conditional on delivery of a copy of the court order to the registrar of companies, expected to occur next Monday.
Thursday is expected to be the last day for dealing in Communisis shares, which will then be cancelled next Tuesday.
Shares in Communisis were down 0.3% at 70.80 pence on Tuesday.