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Vodafone Extends Tender Offer For Cobra Automotive Tech By Five Trading Days(dpa-AFX International Compact Via Acquire Media NewsEdge) NEWBURY (dpa-AFX) - Telecom giant Vodafone Group Plc. (VOD.L, VOD) said Friday that it extended its voluntary tender offer for the entire issued share capital of Cobra Automotive Technologies S.p.A by five trading days. Previously, the offer was set to expire today. The company stated that Cobra shareholders will now have until 5.30pm, CET, on 1 August 2014 to tender their shares for sale. The Settlement Date will fall on 8 August 2014. All other terms and conditions of the Offer remain unchanged, the company said. Italy-based Cobra is a provider of security and telematics solutions to the automotive and insurance industries. Through its operations in Brazil, China, France, Germany, Italy, Japan, South Korea, Spain, Switzerland and the UK, the company and provides a range of products and services, including telematics, usage-based insurance, and vehicle tracking, to vehicle manufacturers, dealerships and after-market customers. In Mid-June, Vodafone announced its intentions to acquire Cobra through a voluntary tender offer at 1.49 euros per share in cash. The offer valued Cobra at 145 million euros or 115 million pounds in total. Vodafone then said it entered into an agreement with Cobra's main shareholders, who, together, hold 73.96 percent of its share capital to effect certain matters including agreeing to tender their shares into the offer. Copyright RTT News/dpa-AFX |