お知らせ • Jan 08
Cicor Technologies Ltd. (SWX:CICN) cancelled the acquisition of TT Electronics plc (LSE:TTG) from Aberforth Partners LLP and others.
Cicor Technologies Ltd. (SWX:CICN) agreed to acquire TT Electronics plc (LSE:TTG) from Aberforth Partners LLP and others for approximately £290 million on October 30, 2025. A cash consideration valued at £1 per share will be paid by Cicor Technologies Ltd. 0.0028 New Cicor Shares will be paid for each TT Electronics plc share. The Offer Value of £1.55 per TT Share, consisting of £1 per share in cash and £0.55 per share in New Cicor Shares. The cash consideration payable pursuant to the Acquisition will be financed by debt to be incurred by Cicor under the bridge Facilities Agreement pursuant to a £195 million senior term facility A available thereunder.
The Acquisition will be subject to approval by the requisite majorities of TT Electronics plc shareholders, sanction of the Scheme by the Court, the SIX Exchange Regulation, the Acquisition becoming Effective by no later than the Long Stop Date, receipt of certain antitrust and other regulatory approvals, including merger control approvals in Australia, Germany, Mexico, the United Kingdom and the United States, and foreign investment approvals in France, Italy, the United Kingdom and the United States. No consent, approval, waiver or resolution of the shareholders of Cicor Technologies Ltd. is required to implement the Acquisition. The deal has been unanimously approved by the board. The expected completion of the transaction is January 1, 2026 to June 30, 2026. As of November 18, 2025, the cash offer is revised to £1.5 per share. The cash consideration payable pursuant to the Acquisition will be financed by debt to be incurred by Cicor under the bridge Facilities Agreement, as amended in connection with this announcement, pursuant to a £220 million senior term facility A available thereunder and a £70 million senior term facility E available thereunder. As of December 10, 2025 The company said its court meeting and general meeting, originally scheduled for December 17 will now take place on December 22, 2025.
Tommy Hadewicz and Raffael Huber of UBS Group AG acted as financial advisor for Cicor Technologies Ltd. Joe Hannon, Ben Edenharder and Anisah Mahomed of UBS AG, London Branch acted as financial advisor for Cicor Technologies Ltd. Nick Jones and Stephen Hewes, Martin Hutchings, Mario Hüther, David Mendel, Martin McElwee, Peter Clements, Joseph Biesterfield of Freshfields LLP and Freshfields LLP (Germany) acted as legal advisor for Cicor Technologies Ltd. Baker & McKenzie acted as legal advisor for Cicor Technologies Ltd. Annabelle Croker and Matt Hamilton-Foyn of Allen Overy Shearman Sterling LLP acted as legal advisor for TT Electronics plc. Schellenberg Wittmer acted as legal advisor for TT Electronics plc. James Dawson, Jeremy Stamper and Ruaridh Duff of Gleacher Shacklock LLP, Investment Banking Arm acted as financial advisor for TT Electronics plc. Ravi Gupta, Neil Thwaites and Matthew Price of N.M. Rothschild & Sons Limited acted as financial advisor for TT Electronics plc. Simon Reitz, David Neu, Giuseppe Chiaula, Christopher Banks, Nicholas Kinnersley, Erik O'Connor, Charlotte Holt, Catherine Freeman, Faeezah Tailo, Jemma Dick, Caroline Dawson of Clifford Chance advises lenders on financing for Cicor Technologies’ Acquisition of TT Electronics. Adrian Koller, Philip Spoerlé of Niederer Kraft Frey advised Commerzbank Aktiengesellschaft and UBS Switzerland AG acting as mandated lead arrangers on Swiss law aspects of the financing of Cicor Technologies Ltd.’s acquisition of TT Electronics Plc.
Cicor Technologies Ltd. (SWX:CICN) cancelled the acquisition of TT Electronics plc (LSE:TTG) from Aberforth Partners LLP and others on January 7, 2026. The required majority of 75% of votes present and cast for Cicor's offer was not achieved as only 51.77% of shareholders by value voted in favour of the Scheme. Consequently, the proposed acquisition by way of a scheme of arrangement will not proceed. The TT Electronics Board will continue to focus on existing business delivery. Furthermore, Warren Tucker, Chairman of TT Electronics, intends to step down from the company.