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
Airport Marking Aids Markings used on runway and taxiway surfaces to identify a specific runway, a runway threshold, a centerline, a hold line, etc. A runway should be marked in ac>[...]
"It is extremely difficult, if not impossible, for manned aircraft to see a drone while conducting crop-enhancing and other aerial applications at low altitudes and high speeds. We>[...]
Aero Linx: The Skyhawk Association The Skyhawk Association is a non-profit organization founded by former Skyhawk Pilots which is open to anyone with an affinity for the A-4 Skyhaw>[...]
“The T-54A benefits from an active Beechcraft King Air assembly line in Wichita, Kansas, where all required METS avionics and interior modifications are installed on the line>[...]
Aero Linx: Aerostar Owners Association The Association offers the Aerostar Owner a unique opportunity to tap an invaluable source of information concerning the care and feeding of >[...]