Philips to take over Electrical Geodesics for GDP29m
AIM listed Electrical Geodesics, a leading neurodiagnostic medical technology company, has agreed to be acquired by elecronics giant Philips.
Electrical Geodesics Inc (Regs)
80.00p
16:55 18/09/15
0.00%
0.00p
Electrical Geodesics Inc. (DI)
102.50p
14:39 21/07/17
0.00%
0.00p
Health Care Equipment & Services
10,359.47
16:24 18/11/24
-0.68%
-71.28
Philips will buy all of EGI's shares for £29m in cash, with the AIM group's board of directors "unanimously" approving the deal.
However, the acquisition depends on shareholder agreement at a meeting to be held on 17 July.
The agreement entitles shareholders to receive £1.054 in pounds at a fixed price for each share in company stock and could end the agreement with a termination fee.
EGI noted the £29m free represented a premium of approximately 36% to the closing price of 77.5p on 20 June 2017.