Technicolor confirms sweetened Vector Capital offer
June 14, 2012
Media and entertainment technology specialist Technicolor has confirmed that the Company received on June 13 at 10.00pm a binding and irrevocable offer from Vector Capital.
This offer amends the offer submitted by Vector to Technicolor on May 25 by raising the subscription price of the shares to be issued under the reserved capital increase from €1.90 to €2.0, so that, according to Vector, the total capital increase proceeds would be comprised between €167 and €191 million, compared to the proceeds implied by the Vector initial offer comprised between €162 million and €186 million.
According to its offer, Vector will submit to the Shareholders’ Meeting to be held on June 20 amendments to the resolutions filed on May 25 in order to reflect the terms of its new offer.