Published: January 7, 2026 at 3:11 pm
TT Electronics’ proposed £287 million takeover by Swiss electronics group Cicor has collapsed after shareholders voted against the deal, bringing an end to a process that began in October.
The boards of both companies had agreed a recommended cash and share acquisition, under which Cicor would acquire the entire issued and to-be-issued share capital of TT.
Under a revised final offer announced in November, TT shareholders were given the option of receiving either 150p in cash per share or 0.0084 new Cicor shares, with the transaction to be implemented via a court-approved scheme of arrangement.
However, at a court meeting and general meeting held today, the negotiations failed to secure the required level of shareholder support.
Only 51.77% of votes cast by value were in favour of the scheme, below the statutory thresholds needed for approval, meaning the acquisition has formally lapsed.
Company chairman Warren Tucker also confirmed that he plans to step down as chairman after serving two three-year terms, although he will remain in post until the company’s AGM in May to allow for an orderly transition.