5th Sep 2019 17:59
(Alliance News) - Retail and manufacturing software developer Sanderson Group PLC on Thursday said a court has approved of a GBP90 million cash takeover of the company from private equity firm Aptean Ltd.
At the start of August, Aptean - controlled by TA Associates and Vista Equity Partners - offered 140 pence per share for Sanderson. This was a 10% premium to the share price just prior to the deal being announced.
Last week, the acquisition received the backing of Sanderson's shareholders.
Sanderson added that the acquisition is still conditional on the registrars of the companies receiving a copy of the court order. This is likely to occur on September 9, the company confirmed.
Sanderson said its shares will be suspended from AIM trading on September 9 and will be cancelled on September 10.
Shares in Sanderson closed 2.1% higher at 143.00 pence each in London on Thursday.
Related Shares:
SND.L