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Ericsson wins regulatory approval of TANDBERG Television acquisition
Apr 24, 2007 10:00 AM
Ericsson received favorable rulings this week from the relevant competition authorities to acquire all outstanding shares in TANDBERG Television.
The authorities required no material adverse changes to the offer. All conditions set out in its Feb. 26 offer have been met. Ericsson is expected to execute settlement for TANDBERG Television shares submitted in its voluntary public cash offer tomorrow.
Following that settlement, Ericsson will proceed with a mandatory offer for the remaining shares of the company. In parallel, Ericsson plans to initiate a compulsory acquisition of the remaining shares in TANDBERG Television.
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