Published: November 18, 2025 at 8:16 am
The takeover of TT Electronics Plc by Swiss electronics firm Cicor Technologies Ltd has been amended after a major shareholder said it would reject the £287 million deal.
DBAY, which owns a 16.5% stake in TT and saw three takeover bids of its own rejected, said recently that it is “not supportive of the acquisition”, which was for 100 pence in cash plus 55p in Cicor shares.
Now the boards of Cicor and TT have revised the terms to give shareholders the option of cashing out their shares in TT in entirety.
“The revised offer follows constructive engagement with the TT directors and TT’s major shareholders. While Cicor firmly believes that the original offer represented full and fair value for TT, it acknowledges the concerns of some TT shareholders that cannot, or otherwise do not wish to, hold Swiss-listed shares,” said TT.
Any shareholder who cashes out their shares in entirety will receive 150p per share, while the original deal is effectively still available to those who wish to take a stake in Cicor.