Drought: As the world gets drier and hotter, reliable access to water is becoming a greater challenge – lending urgency to innovations that could pull water right out of the air.
Oozi Cats, 60, (pictured) was the chief exec of Telit Communications until 2017. He was ousted when it emerged he was still wanted in a US state under the name of Uzi Katz .
Telit Communications succumbs to DBAY
If the bid succeeds then it will bring to an end a colourful time as a publicly listed company for Telit
The board of Telit Communications PLC (LON:TCM) has been worn down by DBAY and is recommending acceptance of 220p a share takeover.
The bid by funds managed by DBAY values the Internet of Things enabler at around £307mln. Shares in the technology company currently trade at 225p, up 11.4% on the day.
The Telit board has recommended acceptance of the offer even though, according to DBAY’s statement, the Telit directors consider the cash offer “undervalues Telit and its longer-term prospects”.