Morse shareholders give 2e2 takeover thumbs up


Morse shareholders give 2e2 takeover thumbs up

Microscope contributor
Morse shareholders have voted in favour of 2e2's proposed acquisition at a General and Court Meeting held earlier today.

As exclusively revealed by MicroScope last month, 2e2 approached Morse with an offer of 51 pence per share which valued the business at £70m, a deal that directors then unanimously recommended to shareholders.

The proposed acquisition has moved closer to completion after 90.5% of Morse shareholders today backed it, according to a statement made to the London Stock Exchange. 

"Morse shareholders voted to approve, by the necessary majorities, the scheme of arrangement under Part 26 of the Companies Act 2006 and other associated matters to to implement the acquisition," Morse stated. 

The acquisition is due to be completed on 24 June.
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