Acquisition OfferCicor has announced a recommended 155p per share offer for TT Electronics, consisting of 100p in cash and 0.0028 New Cicor Shares, which is a c64% premium to yesterday's closing share price of 95p.
Financial PerformanceThe deal would result in >CHF1.2bn in combined revenues and sector leading EBITDA margins.
Market ExpansionThe announcement says the enlarged Cicor Group will be the largest global pure play EMS provider in high mix low volume business, with a diversified footprint across Europe, the Americas and Asia.