In accordance with Rule 26.1 of the Code, a copy of this announcement will be available on u-blox s website at (www.u-blox.com). The content of the website referred to in this announcement is not incorporated into and does not form part of this announcement.
This communication is not intended to and does not constitute an offer to buy or the solicitation of an offer to subscribe for or sell or an invitation to purchase or subscribe for any securities or the solicitation of any vote in any jurisdiction. The release, publication or distribution of this communication in whole or in part, directly or indirectly, in, into or from certain jurisdictions may be restricted by law and therefore persons in such jurisdictions should inform themselves about and observe such restrictions.
EQS-News: u-blox AG: STATEMENT REGARDING TELIT COMMUNICATIONS PLC ( Telit ) finanznachrichten.de - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from finanznachrichten.de Daily Mail and Mail on Sunday newspapers.
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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Charles Pretzlik / Jonathan Glass + 44 (0)20 7404 5959
Andrew Seaton / Robert Way / William Morton + 44 (0) 20 7986 4000
Edmund Byers / Celia Murray / Richard Walsh + 44 (0) 20 7742 4000
Mark Sorrell / Jose Barreto + 44 (0) 20 7774 1000
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