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EQS-News: u-blox AG: STATEMENT REGARDING TELIT COMMUNICATIONS PLC ( Telit )
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u-blox AG: Statement Regarding Telit Communications PLC ( Telit )
THALWIL, SWITZERLAND / ACCESSWIRE / January 7, 2021 / u-blox Holding AG ( u-blox ) (SIX:UBXN,OTC:UBLXF) notes Telit s announcement on 7 January 2021 and confirms that it has received a letter from Telit, terminating discussions regarding a possible combination between the parties.
u-blox believes that a combination of the two entities has strong strategic rationale and could result in substantial synergies, to the benefit of both sets of shareholders, through the combined product offering, and scale benefits in areas including innovation, sales and global distribution channels.
As announced on 20 November 2020, u-blox had proposed a possible all-share combination with an offer price of £2.50 per Telit share. u-blox believes that this price is a compelling proposition for Telit s shareholders. u-blox remains open to discussing with the Board of Telit the strategic benefits of a combination between the two companies.
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William Rucker / Nicholas Page + 44 (0) 20 7187 2000 Cleary Gottlieb Steen & Hamilton LLP, Freshfields Bruckhaus Deringer LLP and Kirkland & Ellis LLP are retained as legal advisers to Allied Universal and Allied Bidco. Linklaters LLP is retained as legal adviser to G4S. Important Notices Capitalised terms used in this section (Important Notices) but not defined in this announcement have the meanings given to them in the Firm Offer Announcement. Important notices relating to financial advisers Morgan Stanley & Co. International plc ( Morgan Stanley ) which is authorised by the Prudential Regulation Authority ( PRA
FURTHER INFORMATION
Credit Suisse International ( Credit Suisse ) which is authorised by the Prudential Regulation Authority and regulated in the UK by the Financial Conduct Authority and the Prudential Regulation Authority, is acting exclusively for Bidco and no one else in connection with the Offer and will not be responsible to anyone other than Bidco for providing the protections afforded to clients of Credit Suisse or for providing advice in connection with the Offer or any matter referred to herein.
Goldman Sachs International ( Goldman Sachs ) which is authorised by the Prudential Regulation Authority and regulated in the UK by the Financial Conduct Authority and the Prudential Regulation Authority, is acting exclusively for Bidco and no one else in connection with the Offer and will not be responsible to anyone other than Bidco for providing the protections afforded to clients of Goldman Sachs or for providing advice in connection with the Offer or any matter referred to he
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