To make this website work, we log user data. By using Shephard's online services, you agree to our Privacy Policy, including cookie policy.

×
Open menu

Cubic in takeover battle

1st April 2021 - 15:00 GMT | by Trevor Nash in Holsworthy

RSS

A Bradley IFV fitted with I-MILES. (Photo: PEO STRI)

Cubic Corporation has two suitors who aim to take a majority shareholding. The final decision will be taken in late April.

Following the news in February that Cubic Corporation had ‘entered into a definitive agreement' with an affiliate of Veritas Capital and Evergreen Coast Capital Corporation to acquire Cubic for $70 per share in cash, the battleground has shifted with an unsolicited counter-bid from Singapore Technologies Engineering (ST Engineering).

Initially valued at $76 per share and then raised to $78, the ST Engineering bid would see Cubic Mission and Performance Solutions (CMPS) sold to an affiliate of Blackstone Tactical Opportunities.

By 31 March, Cubic had accepted a proposal from Veritas and Evergreen to increase their offer to $75 per share, valuing ...

Want to read more?

To read this article, along with thousands of others like it, start your Premium News free trial.

Start Trial or log in here

Share to

Linkedin