16th Mar 2015 18:27
LONDON (Alliance News) - Steel Partners Holdings LP holds or has received valid acceptances for about 75.1% of API Group PLC, the hologram manufacturer it is acquiring, according to a statement on Monday.
The statement means that Cedar Bidco, the vehicle being used by Steel Partners to make the acquisition, will ask AP to apply for its shares to be cancelled from trading on AIM.
The offer became unconditional on February 9. It is to closed at 1300 GMT on Friday this week.
The deal values API at 60 pence per share.
API shares closed up by 0.1% at 59.06 pence on Monday.
By Samuel Agini; [email protected]; @samuelagini
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