Cobham plc, which said around a month ago that it had withdrawn its bid for Thrane & Thrane A/S (OMXC: THRAN), said in a release on Thursday that it has purchased about 25.6% of the shares in the Danish satellite communications company from Jupiter Asset Management and other institutional investors. Cobham initially withdrew its bid since Thrane & Thrane’s Board did not support the takeover.
Since then the Chairman Waldemar Schmidt has resigned over disagreement concerning the company’s future. Cobham said that a number of Thrane & Thrane shareholders had approached Cobham with the intent on selling their shares following the resignation of Schmidt. These deals were done at the originally suggested price of 420 DKK. Thrane & Thrane closed at 389 DKK on Wednesday going into Easter holidays.
Thrane & Thrane send a press release this morning, saying that strategic analysis is continuing and the results shall be released no later than May 14th. The purchase gives Cobham a slightly larger amount of shares than that of the 24% held by founder Lars Thrane.
No comments:
Post a Comment