Cobham extends Thrane offer period

Defence technology group Cobham has extended the offer period for shareholders in Danish satellite communications outfit Thrane and Thrane to sell up.

The FTSE 250 firm has pushed the deadline for Thrane's shareholders to sell their shares by four weeks to 18 June as it deals with merger paperwork.

"Following the Thrane and Thrane board's 3 May decision to support and facilitate Cobham's offer detailed information has been provided, resulting in an additional merger clearance filing," the firm said.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up

"The extension of the offer period provides further time to secure the customary merger clearances."

Early in May Cobham offered DKK435 (Danish Krone) in cash for each Thrane share, an increase of DKK15 per share over its initial offer.

The offer was subject to Cobham obtaining more than 50% of Thrane & Thrane's outstanding share capital and Cobham has already succeeded in this.