Document and patent translation specialist SDL has reached an agreement on the terms of a recommended cash acquisition of Alterian, the Bristol based firm which makes content creation software.
The Alterian independent directors have said they consider the terms of the acquisition to be fair and reasonable and unanimously recommended the acquisiton to its shareholders, which values the enture issued share capital of the firm at around £68.4m.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely 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
Phil Cartmell, chairman of Alterian, said: "The Alterian Independent Directors are unanimously recommending this Acquisition by SDL, having considered it in the light of the changes that have been made to the business as part of the recently announced transformation programme. The offer gives Alterian Shareholders the opportunity to realise a significant cash premium to the price on 21 October 2011, being the last business day before SDL announced its possible offer."
SDL's share price rose 1.71% to 596p, while Alterian's share price rose 7.41% to 108.75p by 08.28.
NR
-
HMRC savings tax crackdown: More workers to pay tax directly from their wagesBanks and building societies will be required to obtain National Insurance numbers from savers to make it easier for HMRC to tax those who breach their personal savings allowance
-
It’s time to start backing the UK stock marketThe UK stock market has been languishing for decades. But the tide is turning and smart investors should buy in now
