Thursday, May 3, 2012
Cobham, Thrane & Thrane Reach Revised Agreement
Cobham said it has reached an agreement with Thrane & Thrane's board to increase its stake in the airborne connectivity company.
Cobham revised its original offer from last month, increasing its per-share offer by 2.6 percent. Cobham will now own 22.7 percent of the company.
"We are very pleased that, by increasing our offer to take account of the dividend for the year now ended, we have reached agreement with the Board of Thrane & Thrane. Their recommendation will allow us to move quickly, and with certainty, with the integration of Thrane & Thrane into the Cobham group. We believe that this is an outstanding opportunity to bring together two world-class, highly complementary, commercially focused SATCOM businesses and is in line with our aim of prioritising investment that will bring more balance between our defence/security and commercial markets," John Devaney, said Cobham’s executive chairman.
Cobham has been active in the SATCOM market for many years; the company said it has worked with Thrane & Thrane during this time and has been in discussions with it over the last year with a view to a combination of the two businesses. "The combination of Thrane & Thrane with Cobham’s SATCOM businesses is highly complementary and will give the combined operation increased technology advantage and scale in maritime, land and airborne SATCOM systems," Cobham said. More...