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Software | July 02, 2008

Mentor succeeds in Flomerics take-over

The Board of Mentor and the Board of Flomerics have reached an agreement on the terms of a revised and recommended cash offer made by Mentor, to acquire the whole of the issued and to be issued share capital of Flomerics.

The Board of Mentor states that, following the acquisition of 369,783 Flomerics Shares at 122 pence, Mentor holds 7,191,498 Flomerics Shares, representing 31.3% of the existing issued share capital of Flomerics. Under the revised terms of the Recommended Offer, Flomerics Shareholders will continue to receive, for each Flomerics Share held, 122 pence in cash. The Recommended Offer values the entire issued and to be issued share capital of Flomerics at approximately £30.1 million. The full terms of the Recommended Offer will be set out in the Recommended Offer Document and Form of Acceptance which will be posted to Flomerics Shareholders on 2 July 2008.
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