© TT Electronics
Electronics Production |
TT Electronics rejects DBAY bids, backs Cicor offer
TT Electronics has responded to its largest shareholder, DBAY Advisors, after the investor confirmed it does not intend to vote in favour of the recommended cash and share offer from Cicor Technologies.
In its statement on Friday, TT revealed that over the past three months it had received three unsolicited all-cash proposals from DBAY, at prices of 122 pence, 127 pence, and 130 pence per share, with the latest submitted on 7 October 2025. Each proposal was described as “highly conditional” and was rejected by TT’s board.
The company noted that Cicor's offer of 155 pence per TT share represents a 19% premium over DBAY’s most recent bid. TT said it had engaged with several shareholders, including DBAY, and acknowledged that DBAY “may have a different agenda to other shareholders.”
The TT board reconfirmed its support for the Cicor offer, stating that it believes the deal delivers maximum value for all shareholders.
