M&A
confidence high
sentiment positive
materiality 0.65
Quanex adds 15p special dividend to Tyman offer; secures undertakings for 26.73% of shares
Quanex Building Products CORP
- Revised consideration includes Special Dividend of 15 pence per Tyman share, conditional on court sanction.
- Irrevocable undertaking from Alantra for ~10.05% of Tyman shares, total now ~26.73%.
- Alantra undertaking binding unless a competing offer exceeds current value by >12.5%.
- Tyman shareholders may still choose Main Offer or Capped All-Share Alternative plus Special Dividend.