Datwyler today announces that the terms of its Offer were final. It will furthermore not be seeking an extension to the above deadline and will invoke the condition and therefore its Offer for Premier Farnell will lapse on 21 August 2016.
Datwyler notes that, when the Offer lapses, Datwyler will, except with the consent of the UK Panel on Takeovers and Mergers, be bound by the restrictions contained in Rule 35 of the City Code on Takeovers and Mergers until 21 August 2017.
As communicated previously, one-off transaction costs connected with the Offer, which will be incurred in EBIT, are between CHF 4 million and CHF 8 million. Additional one-off costs of approximately CHF 35 million to CHF 40 million related to currency hedging and exchange rate losses will also be accounted for in Datwyler’s financial results.
Datwyler continues to execute on its stated profitable growth strategy through both organic means and acquisitions. Following the implementation of the shared infrastructure platform, the emphasis within the Technical Components division is on organic growth through accelerated enlargement of the product range, geographic expansion and continuously improving operation performance and customers’ purchasing experience, alongside development of the distribution business through acquisitions.