Share Prices & Company Research

Market News

03 Nov 2020 | 10:46

Telit Communications rejects Lantronix offer but still in talks

(Sharecast News) - Telit Communications said on Tuesday that it had received a preliminary takeover approach from asset manager DBAY Advisors and a preliminary approach from California-based Lantronix. Responding to recent media speculation, the Internet of Things enabler said it had considered the offer from Lantronix with its financial adviser, Rothschild & Co, and decided to reject it. However, it remains in talks with Lantronix "to explore a possible transaction which could be in shareholders' interests".

Telit said that the consideration for any offer, if made, is likely to be Lantronix shares.

"There can be no certainty that an offer will be made by either party nor as to the terms of any offer, if made," it said, adding that a further announcement will be made when appropriate.

Lantronix is a global provider of engineering services, hardware, and software solutions for Edge Computing, the Internet of Things and Out-of-Band Management (OOBM).

At 1050 GMT, Telit shares were up 8.1% at 150p.
Get in touch today
Join Redmayne Bentley
Talk to us now about opening a new account or transferring your account from another provider
0113 243 6941
Get in touch today
Contact your local office
Contact your local office to find out more
The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.
Continuing our Personal Service: View our Latest COVID-19 Update: 15th January 2021
We use cookies on this site to improve your experience and help us provide you with a better website. An explanation of the cookies we use and their purpose can be found within our Cookie Policy. Your continued use of this site means you consent to the use of cookies.