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ATS Tender Offer for Global Food & Beverage Equipment Supplier CFT S.p.A. to Commence February 8, 2021
ATS Tender Offer for Global Food & Beverage Equipment Supplier CFT S.p.A. to Commence...
About this update from Ats Corporation
[{"type":"text","content":"\n \n \n \n ATS Tender Offer for Global Food & Beverage Equipment Supplier CFT S.p.A. to Commence February 8, 2021\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n ATS Tender Offer for Global Food & Beverage Equipment Supplier CFT S.p.A. to Commence February 8, 2021\n \n \n Canada NewsWire\n \n \n \n \n \n CAMBRIDGE, ON\n \n ,\n \n Feb. 5, 2021\n \n /CNW/ - ATS Automation Tooling Systems Inc. (TSX: ATA) (\"ATS\" or the \"Company\"), an industry-leading automation solutions provider, today announced that the Italian securities regulatory authority has approved the Offer Document filed by ATS Automation Holdings Italy S.r.l., a limited liability company indirectly and wholly controlled by ATS, with respect to its previously announced voluntary public tender offer for the shares of CFT S.p.A. (BIT:CFT) (\"CFT\"), an established global supplier to the food and beverage equipment market. The tender offer of €4.60 per share represents a total equity value of €88 million and a total enterprise value of €166 million (\n \n ~C$260 million\n \n ).\n \n \n \n \n \n \n \n \n \n The tender offer will be open for acceptance during the period commencing\n \n February 8\n \n \n th\n \n , 2021 and ending at\n \n 5:30 p.m. (CET)\n \n on\n \n March 12\n \n \n th\n \n , 2021, unless extended, in accordance with applicable law.  If the tender offer is successful, it would close approximately one week after the end of such acceptance period.\n \n \n A courtesy English translation version of the Offer Document, as well as other transaction related documents, including weekly tender reports, will be available on the ATS website (astautomation.com) commencing on\n \n February 5\n \n \n th\n \n , 2021.\n \n \n As previously disclosed, the tender offer is subject to various approvals and closing conditions, and there can be no assurance that any remaining approvals will be obtained and/or any remaining conditions will be met and therefore no assurance that ATS will be successful in acquiring CFT. To date, certain conditions or approvals have been met ...