Hytera Shareholders Approve Sepura Acquisition
Friday, January 06, 2017 | Comments

Hytera Communications shareholders approved the previously announced acquisition of Sepura during an extraordinary meeting of shareholders held 5 January.

In December, Hytera made a binding offer to buy U.K.-based professional mobile radio (PMR) technology company Sepura for 20 pence (US$0.25) in cash per Sepura share. The acquisition values the entire issued share capital of Sepura at about £74 million (US$92 million), representing a premium of 35.6 percent to the closing price of 14.75 pence per Sepura share 3 November.

The companies released the announcement on the London and Shenzhen stock exchanges.

The acquisition remains subject to the conditions and certain further terms described in the Rule 2.7 announcement. A scheme document will be dispatched to Sepura shareholders 16 January.

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