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Wireless

Telit receives all-share takeover bid from U-blox

Friday 20 November 2020 | 09:41 CET | News
Telit Communications has announced the receipt of a preliminary all-share bid approach from Swiss company U-blox. Under the terms of the Proposal, Telit shareholders would receive U-blox shares with a value of GBP 2.50 per Telit share, which would result in Telit shareholders owning approximately 53 percent in the combined company, said Telit in a brief statement. "The board of Telit is considering the proposal… and a further announcement will be made when appropriate," said Telit, adding that "the proposal assumes any such merger would be structured as an offer for Telit by U-blox."

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Categories: Mobile & Wireless
Companies: Telit Communications / U-blox
Countries: World
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