Crealogix almost wholly owned by Vencora
Published: Friday, Jan 19th 2024, 12:20
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The takeover of software and IT service provider Crealogix by competitor Vencora UK Limited is practically complete. As part of the purchase offer, 71.45% of all Crealogix shares were tendered to the British company by 4 p.m. yesterday (Thursday).
Vencora announced on Friday in a provisional announcement of the interim results of the public tender offer that it had received 622,800 Crealogix shares. This means that Vencora, together with other members of the CSI Group and persons acting in concert, held a total of 1.35 million Crealogix shares at the end of the offer period. This corresponds to 96.24 percent of the share capital.
Vencora UK has acquired 725,746 Crealogix shares from some Crealogix shareholders as part of a share purchase agreement. However, the purchase agreement has not yet been completed, it was reported. In addition, Crealogix itself holds 3441 Crealogix shares.
The definitive interim result of the offer is expected to be published next Wednesday, January 24, 2024. One day later, the grace period of 10 trading days for subsequent acceptance of the offer will begin. This will last until February 7, 2024, 4 pm.
Vencora UK submitted a takeover bid for the Zurich-based company in mid-November. The subsidiary of Constellation Software Inc from Canada is offering CHF 60 per Crealogix share in cash. This values Crealogix at CHF 84 million. The Board of Directors of Crealogix recommends accepting the offer.
According to earlier statements, Crealogix will be delisted from the Swiss stock exchange SIX after the takeover.
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