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BRIEF-Xcerra Corp to be acquired for approximately $580 mln by Unic Capital Management
April 10, 2017 / 11:20 AM / 7 months ago

BRIEF-Xcerra Corp to be acquired for approximately $580 mln by Unic Capital Management

April 10 (Reuters) - Xcerra Corp

* Xcerra Corp to be acquired for approximately $580m by Unic Capital Management, an affiliate of Sino IC Capital

* Agreement under which Unic Capital Management will acquire all outstanding shares of Xcerra for $10.25 per share in cash

* Board of directors has unanimously approved transaction,Xcerra expects no changes to day-to-day operations of company

* Xcerra expects no changes to day-to-day operations of company and expects that Xcerra’s existing management will continue to run company

* Transaction price represents approximately a 16 percent premium to Xcerra’s average closing price over 30 trading day period ending April 7, 2017

* Deal requires Xcerra to pay termination fee of $14.3 million to affiliate of Sino IC Capital if Xcerra terminates merger due to superior offer

* Deal requires Xcerra to pay termination fee of $22.8 million to an affiliate of Sino IC Capital if Xcerra terminates deal following go-shop period

* Merger includes “go-shop” period, during which Xcerra to actively solicit alternative proposals from third parties for next 35 days through May 12, 2017 Source text for Eikon: Further company coverage:

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