Product category:
General Print Supplies, Services for Printers
News Release from: Xaar
Edited by the Printingtalk Editorial
Team on 16 November 2006
Xaar Rejects Unwanted Acquisition Deal
Xaar has received an unsolicited approach from Danaher about a possible offer for the company at between 200 pence - 220 pence per share in cash.
Xaar has received an unsolicited approach from Danaher about a possible offer for the company at between 200 pence - 220 pence per share in cash After consideration, Xaar said its board rejected the approach and has advised shareholders to take no further action
This article was originally published on Printingtalk on 16 Apr 2008 at 8.00am (UK)
Related stories
Rigid Substrate Ink Approved For Xaar's Printheads
Toyo Ink's Liojet FV03 inks have now been approved for use with Xaar's 760 range of inkjet printheads.
The company added that whilst an offer on those terms would represent a premium of between 38.5 pence - 58.5 pence to the closing share price of 161.5 pence on November 13, more relevantly it would represent a discount of between 118 pence - 138 pence to the 12-month share price high of 338 pence.
The Xaar board added that it views the timing of the approach as opportunistic.
The board explained that it continues to be confident about the longer-term prospects of the company in a rapidly growing market, as well as in the strategic value of its digital ink-jet technology.
The announcement by Xaar was made without Danaher's consent, commented the company, which added that there can be no certainty that an offer will be made, nor as to the terms on which any offer might be made.
Further announcements will be made as and when appropriate, said the company. Request free introductory details about products from Xaar ...
• Xaar: contact details and other news
• Email this article to a colleague
• Register for the free Printingtalk email newsletter
• Printingtalk Home Page
Search the Pro-Talk network of sites
