| Title: | Avnet(Holdings)Ltd launches a tender offer for Horizon Technology Group PLC (pending) |
| Price: | $48.00 |
| Publication Date: | Apr 18, 2008 |
| Abstract: | IRELAND - Avnet (Holdings) Ltd (AL) of the UK, a unit of Avnet Inc, declared wholly unconditional its tender offer to acquire the entire ordinary share capital of Horizon Technology Group PLC (HT), a Dublin-based provider of computer integrated systems services, for 1.18 euros (0.934 British pounds/$1.867 US) in cash per share, or a total value of 97.136 mil euros (77.921 mil pounds/$153.672 mil). The offer was conditioned upon at least 90% of HT's shares being tendered. AL received irrevocable undertakings to accept the offer with respect to 61.35% of HT's entire ordinary share capital. Upon declaration of being wholly unconditional, AL was to exercise its rights to compulsorily acquire all remaining shares not tendered pursuant to the offer and apply for the delisting of HT shares in the Irish stock Exchange. |
| Acquirer: | Avnet(Holdings)Ltd |
| Acquirer Business Discription: | Whl electn components |
| Acquirer Ultimate Parent: | Avnet Inc |
| Acquirer SIC Code: | 5065 - Electronic parts and equipment, nec |
| Target Name: | Horizon Technology Group PLC |
| Target Business Description: | Pvd comp integrated sys svcs |
| Target SIC Code: | 7373 - Computer integrated systems design |
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