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© bakhtiarzein dreamstime.com Business | August 19, 2016

Datwyler lets go of Premier Farnell

"The terms of its Offer were final. It will furthermore not be seeking an extension to the above deadline and will invoke the condition and therefore its Offer for Premier Farnell will lapse on 21 August 2016."
The initial announcement was made by Datwyler on June 14, 2016. Datwyler notes that it is a condition of the offer that the required resolutions of the Premier Farnell shareholders necessary to approve and implement the scheme of arrangement have been passed on or before 20 August 2016.

Datwyler also notes that, when the offer lapses, Datwyler will, except with the consent of the UK Panel on Takeovers and Mergers, be bound by the restrictions contained in Rule 35 of the City Code on Takeovers and Mergers until 21 August 2017.
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