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BRIEF-Market Tech, Labtech reaches agreement on cash offer for Market Tech
April 21, 2017 / 8:44 PM / 7 months ago

BRIEF-Market Tech, Labtech reaches agreement on cash offer for Market Tech

April 21 (Reuters) - Market Tech Holdings Ltd:

* Directforce trading - statement re possible offer

* Co and Labtech Investments have reached agreement on terms of recommended cash offer for Market Tech by Labtech

* Under terms, Labtech to acquire entire issued and to be issued ordinary share capital of co not already owned by Labtech

* Under terms of offer, Market Tech shareholders will receive 188 pence in cash for each Market Tech share

* Offer values entire issued, to be issued, share capital of Market Tech on fully-diluted basis at about 892.5 million pounds ($1.14 billion)

* Independent Market Tech directors intend unanimously to recommend that market tech shareholders accept offer

* Labtech received non-binding letters of intent from LOIM group for accounts managed by LOIM entities to accept offer

* Labtech intends to finance offer exclusively by means of its existing financial resources Source text for Eikon: Further company coverage: ($1 = 0.7814 pounds)

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