Atlas Copco is set to take control of a majority stake in Isra Vision, following the expiration of the regular acceptance period for its voluntary public takeover of the machine vision specialist.
At the end of the regular acceptance period, on 8 April, 2020, shareholders had tendered a total of 13,723,396 shares, representing 62.62% of the shares in Isra Vision.
Atlas Copco had already secured 34.9 percent of the shares via irrevocable undertakings from various shareholders, including CEO and founder Enis Ersü, and via a share purchase agreement with Kabouter Management.
With an acceptance rate of 62.62% and a direct shareholding of 13.68%, Atlas Copco will control a majority of the shares in Isra Vision upon consummation of the takeover offer, and will consolidate Isra Vision going forward.
Isra Vision shareholders who have not yet tendered their shares, can still accept the offer during the additional acceptance period. The additional acceptance period starts 16 Apri, 2020 and lasts until 29 April, 2020.
The offer is still subject to the approval by the Committee on Foreign Investment in the United States (CFIUS).
Upon completion, Isra Vision will continue to operate under the same brand with its headquarters in Darmstadt, Germany, and will become a new division within the Industrial Technique business area of Atlas Copco.
