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ATS Tender Offer For European Food & Beverage Equipment Supplier to Begin February 8

· 02/05/2021 03:37

08:23 AM EST, 02/05/2021 (MT Newswires) -- ATS Automation Tooling Systems (ATA.TO), an automation solutions provider, announces that the Italian securities regulatory authority has approved the Offer Document filed by ATS Automation Holdings Italy, regarding its previously announced voluntary public tender offer for the shares of CFT S.p.A., an established global supplier to the food and beverage equipment market. The tender offer of Euro 4.60 per share represents a total equity value of Euro 88 million and a total enterprise value of Euro166 million (~C$260 million).

The tender offer will be open for acceptance between February 8th, 2021 and March 12th, 2021, unless extended, in accordance with applicable law.

The tender offer is subject to various approvals and closing conditions.

Price: 25.88, Change: -0.12, Percent Change: -0.46