DBAY Advisors to buy Telit Communications in £300 million deal By Investing.com
By Samuel Indyk Investing.com – Telit Communications has agreed to be taken over by funds managed by DBAY Advisors in a deal valued at £306.9mln. The AIM-listed company said that shareholders will each receive 220 pence per share in cash, representing a premium of 58.5% to the closing price on 2nd November 2020, the last business day before the previous offer period began. The takeover is being orchestrated by Trieste Acquisition Holdings, formed specifically for this acquisition and is an entity entirely owned by funds managed by DBAY Advisors. Speaking on the deal, Telit’s non-executive chairman...
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