Vossloh Gets National Security Clearance for Cordel Takeover Bid
Cordel Group (CRDL.L) said Friday that its proposed takeover by a subsidiary of German rail technology company Vossloh (VOS.F) received clearance under the UK's national security rules the previous day. The 29 million-pound-sterling acquisition via a scheme of arrangement will take effect Aug. 13 following the fulfillment of other conditions, including a court sanction at a hearing scheduled for Aug. 11. The British rail infrastructure technology company's shares will be canceled from trading on the London bourse's AIM segment on the first business day after the deal takes effect.
Cordel Group (CRDL.L) said Friday that its proposed takeover by a subsidiary of German rail technology company Vossloh (VOS.F) received clearance under the UK's national security rules the previous day.
The 29 million-pound-sterling acquisition via a scheme of arrangement will take effect Aug.
13 following the fulfillment of other conditions, including a court sanction at a hearing scheduled for Aug.
11.
The British rail infrastructure technology company's shares will be canceled from trading on the London bourse's AIM segment on the first business day after the deal takes effect.