WIMBORNE MINSTER (dpa-AFX) - Cobham Limited has proposed to buy Ultra Electronics Holdings plc (ULE.L) in a deal valuing the company at about 2.58 billion pounds.
Ultra confirmed that on 21 July 2021 it received a non-binding proposal of 35.00 pounds per share in cash from Cobham. Ultra shareholders would also be entitled to the interim dividend of 16.2 pence per share. The dividend will be paid on 17 September 2021 to shareholders on the register at 27 August 2021.
The aggregate offer price of 35.16 pounds per share represents a 42.4% premium to the Ultra share price of 24.70 per share as at close of business on 22 July 2021.
Ultra Electronics board has indicated to Cobham that it is at a value the Board would be minded to recommend to Ultra shareholder.
Ultra Electronics board has agreed to an extension of the relevant 'put up or shut up' deadline until 5.00 p.m. (London time) on 20 August 2021.
Copyright RTT News/dpa-AFX
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