Sepura has confirmed that it is in initial talks with Hytera ahead of a possible takeover of the company.
A statement issued by Sepura said: ‘Further to the recent share price movement, the board of Sepura confirms that it is in preliminary talks with Hytera Communications Corporation Limited regarding a possible offer for the entire issued and to be issued share capital of the company.
‘Hytera has confirmed to the board of Sepura that any offer, if made, is likely to be solely in cash. There can be no certainty that any offer will be made, nor as to the terms of any such offer.’
According to Sepura, an ‘offer period’ has now commenced, with Hytera now required to either ‘announce a firm intention to make an offer, or to announce that they do not intend to make an offer,’ by 5pm on December the 2nd.
According to sources, Sepura’s shares were given a boost following the announcement, rising around 33 per cent to 24.6p.
