- Keysight Technologies, the US specialist in electronic test and measurement, has filed a tender offer with the Autorité des Marchés Financiers (AMF) for all the remaining shares in ESI Group, the French provider of virtual prototyping software solutions.
Keysight Technologies, which currently holds 50.6% of the share capital and 46.3% of the theoretical voting rights of ESI Group, announces the filing of a tender offer for all remaining outstanding shares of ESI Group.
ESI Group’s Board of Directors issues a unanimous recommendation in favor of the tender offer.
Following the acquisition in early November of 50.6% of ESI Group’s shares, Keysight Technologies Inc., through its subsidiary Keysight Technologies Netherlands B.V., today filed a proposed tender offer with the Autorité des marchés financiers (AMF) to acquire all outstanding shares issued by ESI Group and not yet held by Keysight, at a price of 155 euros per share in cash.
The offer price of 155.0 euros per share represents a premium of 72% to the closing price of 90.0 euros per share on May 17, 2023, the last business day prior to ESI Group’s announcement of preliminary discussions with certain third parties; and of 95% to the volume-weighted average price of 79.4 euros per share for the preceding three months.
If the required conditions are met, the tender offer will be followed by a squeeze-out and the delisting of ESI Group from Euronext Paris.
