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BN 11/07 07:02 *AUTODESK OFFER VALUES DELCAM AT ABOUT 172.5M PNDS BN 11/07 07:01 *AUTODESK: DELCAM HOLDERS TO GET 20.75 PNDS IN CASH FOR EACH SHR BN 11/07 07:01 *AUTODESK , DELCAM REACHED PACT ON RECOMMENDED CASH OFFER BN 11/07 07:00 *AUTODESK INC RECOMMENDED CASH OFFER FOR DELCAM
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Autodesk to Buy Delcam for 2,075p-Shr in Recommended Cash Offer 2013-11-07 07:09:52.693 GMT
By Gaurav Panchal Nov. 7 (Bloomberg) -- Autodesk agrees to buy Delcam in a recommended cash offer for 2,075p, or GBP172.5m. * Expects Scheme to become effective in early Feb * Offer is at 21% premium to Nov. 6 close, 28.8% premium to 1- mo. to/including Nov. 6 * Delcam directors, advised by Numis, consider offer terms fair, reasonable * Offer terms include approval of scheme by Delcam shareholders (at least 75%) * Autodesk has irrevocables representing ~44.5% of Delcam (includes Renishaw stake) * Citi is financial adviser Autodesk; Numis financial adviser to Delcam * Autodesk to pay cash from existing non-U.S. cash resources * Statement: {NSN MVVSS63HHEDE <go>} * Renishaw statement: {NSN MVVT233HHEDC <go>}
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To contact the editor responsible for this story: Gaurav Panchal at +44-20-7392-0511 or gpanchal2@bloomberg.net