The boards of Stadium Group and TT Electronics have announced the terms of a recommended cash offer to be made by TT to acquire Stadium Group for £46m.
TT is a global provider of engineered electronics for performance critical applications. TT works with market-leading customers in the industrial, medical, aerospace and defence and transportation sectors. TT has three divisions: Sensors and Specialist Components, Power Electronics and Global Manufacturing Solutions.
The combination of the businesses is expected to increase TT’s presence in the industrial, defence and transportation sectors, enhance product capabilities and extend research capabilities. The Directors of Stadium believe the offer from TT not only represents an attractive value in cash for its shareholders but the strategic fit will provide considerable scope for accelerating the development of its strategy and products.
Singer Capital Markets is acting as Rule 3 Adviser and Broker to Stadium.
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