Atlas Copco will hold 92.19% of the shares in Isra Vision when its takeover offer is completed, following the end of the additional acceptance period on 29 April for its voluntary public takeover.
Inspection specialist Isra Vision had previously entered into a strategic succession partnership with Atlas Copco, to secure the future of the Darmstadt, Germany headquartered company.
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. The additional acceptance period has now ended, with 78.51% of the shares in Isra Vision tendered (17,205,199 shares). Combined with its own shareholding of 13.68%, Atlas Copco will hold 92.19% of the shares upon completion of the takeover offer.
The offer is still subject to the approval by the Committee on Foreign Investment in the United States (CFIUS). All other offer conditions have been fulfilled.
Henrik Elmin, president of the Industrial Technique business area of Atlas Copco, said, ‘We are pleased with the strong support for our takeover offer. We are committed to the long-term growth of the company and look forward to partner with Isra Vision, bringing its strong brand and technological expertise into the Atlas Copco Group.’
