DBAY Drops TT Takeover Bid, Cicor's Offer Still on the Table
Update: 2025-12-15
Description
DBAY Advisors, major shareholder in TT Electronics, withdraws takeover bid, ending potential bidding war with Cicor. DBAY had previously criticized Cicors offer, valued at one hundred fifty pence per share, as unattractive. TT Electronics had rejected three unsolicited proposals from DBAY in October, with the last offer valued at one hundred thirty pence per share. Cicors final offer includes an alternative option of Cicor shares for investors. Neither company has commented on DBAYs withdrawal, as the situation remains unresolved.
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