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Cobham closes in on Thrane takeover

Cobham reports that it has now obtained acceptances for more than 90 per cent of the issued share capital of Thrane & Thrane as a result of its takeover offer, and that, subject to receiving merger clearances, this now provides a clear path to securing 100 per cent ownership of the company.

Cobham has also extended the offer period on the deal by four weeks, to 18 June 2012 at 20:00 (CET) for shareholders and 12:00 noon (CET) for warrant holders. The existing offer had previously expired on 21 May 2012.

The company says that, following the Thrane & Thrane board’s decision to support and facilitate the offer, detailed information has been provided resulting in an additional merger clearance filing, and the extension of the offer period provides further time to secure customary merger clearances.

Cobham says that the minimum acceptance condition of the offer was satisfied on 8 May 2012.

A supplement to the Cobham Offer Document (‘Supplement II’), which gives effect to the offer period extension, has been approved by the Danish FSA and is available from the Cobham investors website.

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