Tue, Mar 13, 2012
Board Would Not Support Cobham's Offer
Cobham confirms that it has been in discussion over the last year with the Board of Thrane & Thrane with a view to making a recommended offer for the Company. Its proposal, submitted to Thrane & Thrane February 8th, 2012, was at a price of $74 per share in cash valuing the entire currently issued share capital of the Company on a fully diluted basis at approximately $427 million.
The making of such an offer was conditional only on its recommendation by the majority of the Board of Thrane & Thrane and on the Board’s agreement to provide customary support in order to implement the tender offer process. The potential offer would have been subject to the standard terms and conditions for such an offer, but with an acceptance condition of only 50.01 per cent of the shares in Thrane & Thrane.
Cobham’s strategy is to build market leadership positions in its strategic business units by investing in technology, particularly with exposure to commercial market segments, and it has identified Thrane & Thrane as one such potential target. Cobham believes there would be significant benefits from a combination of its SATCOM business with Thrane & Thrane. Cobham’s proposal envisages that Thrane & Thrane would continue to be run by its current management team in Denmark. It would become one of Cobham’s principal global businesses and a focus for future investment.
Cobham says it was disappointed to note that the Board of Thrane & Thrane has felt unable to recommend its proposal, and has therefore decided to withdraw its proposal to make an offer for Thrane & Thrane.
Cobham reserves the right to reconsider its position at any time.
More News
Light Gun A handheld directional light signaling device which emits a brilliant narrow beam of white, green, or red light as selected by the tower controller. The color and type of>[...]
"The journey to this achievement started nearly a decade ago when a freshly commissioned Gentry, driven by a fascination with new technologies and a desire to contribute significan>[...]
Aero Linx: JAARS, Inc. For decades now, we’ve landed planes on narrow rivers and towering mountains. We’ve outfitted boats and vehicles to reach villages that rarely se>[...]
"Our driven and innovative team of military and civilian Airmen delivers combat power daily, ensuring our nation is ready today and tomorrow." Source: General Duke Richardson, AFMC>[...]
Aircraft Conflict Predicted conflict, within EDST of two aircraft, or between aircraft and airspace. A Red alert is used for conflicts when the predicted minimum separation is 5 na>[...]
ANN's Daily Aero-Term (04.20.24): Light Gun
See All