Business
Offer Update
Offer Update.
About this update from Babcock International Group Plc
[{"type":"text","content":"\n RNS Number : 2611O Babcock International Group PLC 25 June 2010 \n \n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION\nFor immediate release\n25 June 2010\nRecommended Acquisition of VT Group plc by Babcock International Group PLC -\nSatisfaction of Condition\n \nBabcock International Group PLC (\"Babcock\") and VT Group plc (\"VT\") are pleased to announce that the Office of Fair Trading has today announced its decision not to refer the recommended acquisition by Babcock of the entire issued and to be issued share capital of VT (the \"Acquisition\") or any matter arising therefrom to the UK Competition Commission.\nThis follows the satisfaction of the conditions to the Acquisition relating to the United States Hart-Scott-Rodino Antitrust Improvements Act of 1976 (and the regulations made thereunder) and the Committee on Foreign Investment in the United States, as announced by Babcock and VT on 20 April 2010 and 21 May 2010 respectively.\nCompletion of the Acquisition remains subject to the satisfaction or waiver of the other Conditions set out in the Scheme Circular sent to VT shareholders dated 26 April 2010, including the Court sanctioning the Scheme and confirming the associated reduction of VT's share capital at Court hearings which are expected to take place on 5 July 2010 and 8 July 2010 respectively. Subject to the Scheme and the associated reduction of capital receiving the sanction and confirmation of the Court on those dates, the Scheme is expected to become effective on 8 July 2010 and the New Babcock Shares to be issued by Babcock pursuant to the Scheme are expected to be admitted to the Official List and admitted to trading on the London Stock Exchange's main market for listed securities on 9 July 2010.\nDefined terms used but not defined in this announcement have the meanings set out in the Scheme Circular dated 26 April 2010.\n- Ends -\nThe distribution of this announcement in jurisdictions other than the United Kingdom and the availability of any offer to VT shareholders who are not resident in the United Kingdom may be affected by the laws of the relevant jurisdictions. Therefore any persons who are subject to the laws of any jurisdiction other than the United...