Under the acquisition terms, Gresham shareholders will receive 163 pence per share in cash. This represents a 26.9% premium over the company’s 129 pence closing share price on the London Stock Exchange when the transaction was initially disclosed in early April.
In mid-May, Gresham Technologies announced that a sufficient number of shareholders had approved the sale to STG Partners at a court meeting and general meeting.
STG Gresham Bid Approval : Legal and Financial Advisors
Paul Hastings LLP is guiding STG Partners, with corporate partner Matthew Poxon leading the team, assisted by senior associate Matthew Calvert and associates Silas Raggett, Willem Jongert, and Macario Chung. Taylor Wessing LLP, led by corporate partner Robert Fenner, is advising Gresham Technologies.
William Blair International Ltd., Houlihan Lokey Advisory Ltd., and Singer Capital Markets Advisory LLP are providing financial advice to Gresham Technologies on the potential deal.
Previous Acquisitions and Market Reaction
In August 2023, STG Partners inked an agreement to purchase Avid Technology Inc. for approximately $1.4 billion, financed through a combination of equity and debt.
