“The settlement is expected to occur on 2 April 2019”
Paris-based security multinational Thales has tweaked its offer conditions for a €4.8 billion buyout of Holland’s Gemalto, saying it is waiving the requirement that approval be given by Russian competition regulators before the deal proceeds.
The unusual announcement today comes as the company said it won approval from all other regulators, including in Australia, China, the European Union, Israel, Mexico, New Zealand, South Africa, Turkey, and the United States.
As a result Gemalto shareholders have now two weeks to tender their shares to the Thales offer, the company said: “The Acceptance Period shall end at 17:40 CET on Thursday 28 March 2019 (the Acceptance Closing Time).”
“If the offer is declared unconditional, the settlement is expected to occur on 2 April 2019”, Thales said in a public statement on Thursday./
“Thales has decided to waive the Offer Condition with respect to the antitrust and foreign investment Regulatory Clearances in Russia” Thales said.