Business
Recommended Offer for TT Electronics Plc
Cicor Technologies Ltd. will acquire TT Electronics plc through a cash and share acquisition, valuing each TT Share at 155 pence, or £287 million total. TT shareholders will receive 100 pence in cash and 0.0028 New Cicor Shares for each TT Share. This offer represents a 64% premium over the closing price of 95 pence per TT Share on October 29, 2025. Post-acquisition, TT Shareholders are expected to own approximately 10% of Cicor. The acquisition is expected to generate at least £13 million in pre-tax cost synergies annually by the third year, with approximately £16.5 million in one-off integration costs. The acquisition is expected to be over 30% EPS accretive for the financial year 2028. The cash portion of the acquisition will be financed by a GBP 195 million senior term loan. Disclaimer*
About this update from Tt Electronics Plc
[{"type":"text","content":"\n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION\n \nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION\nFOR IMMEDIATE RELEASE\n \n30 October 2025\nRECOMMENDED CASH AND SHARE ACQUISITION\nof\nTT Electronics plc\nby\nCicor Technologies Ltd.\nto be effected by means of a scheme of arrangement under Part 26 of the Companies Act 2006\nSummary\n· The boards of directors of Cicor Technologies Ltd. (\"Cicor\") and TT Electronics plc (\"TT\") are pleased to announce that they have reached agreement on the terms of a recommended cash and share acquisition pursuant to which Cicor will acquire the entire issued and to be issued ordinary share capital of TT (the \"Acquisition\"). The Acquisition is intended to be implemented by means of a court-sanctioned scheme of arrangement under Part 26 of the Companies Act.\n· Under the terms of the Acquisition, which will be subject to the Conditions and further terms set out in Appendix 1 to this Announcement and the full terms and conditions to be set out in the Scheme Document, each TT Shareholder at the Scheme Record Time will be entitled to receive:\n\n\n\n\nFor each TT Share:\n\n\n100 pence in cash; and\n\n\n\n\n\n\n\n0.0028 New Cicor Shares\n\n\n\n\n· Based on the closing price of Cicor Shares on the Latest Practicable Date, the Acquisition values each TT Share at 155 pence (the \"Offer Value\") and values TT's entire issued and to be issued ordinary share capital at approximately £287 million on a fully diluted basis.\n· Based on the three-month volume-weighted average closing price of Cicor Shares on the Latest Practicable Date, the Acquisition values each TT Share at 150 pence.\n· The Offer Value represents:\n· a premium of approximately 64 per cent. to the Closing Price of 95 pence per TT Share on 29 October 2025 (being the Latest Practicable Date);\n· a premium of approximately 53 p...