Thales extends the acceptance period of the offer for Gemalto until 15 August 2018 and confirms it expects to complete the acquisition in the course of the second half of 2018
Paris La Défense, 1 June 2018 - 07:00 - Reference is made to the joint press release by Thales (Euronext Paris: HO) and Gemalto (Euronext Amsterdam and Paris: GTO) dated 27 March 2018 in relation to the launch of the recommended all-cash offer by Thales for all the issued and outstanding shares of Gemalto (the "Offer") and the publication of the Offer Document. Terms not defined in the press release will have the meaning as set forth in the Offer Document.
In accordance with Dutch offer rules, and as set out in the Offer Document, Thales has decided to extend the Acceptance Period of the Offer by ten weeks until August 15Th, 17:40 hours CET (11:40 hours New York time).
The Acceptance Period has effectively been extended because the Offer Conditions for completion of the Offer, in particular with respect to Regulatory Clearances, will not be fulfilled before the expiry of the initial Acceptance Period at 17:40 hours CET (11:40 am New York time) on 6 June 2018.
As a reminder, Thales and Gemalto are seeking Regulatory Clearances from the competent antitrust authorities in Australia, in China, for the European Union, in Israel, in Mexico, in New Zealand, in Russia, in South Africa, in Turkey and in the United States. In addition to CFIUS approval in the United States, Thales and Gemalto are seeking Regulatory Clearances relating to foreign investments from the competent authorities in Australia, Canada and Russia.
As announced on 17 December 2017, it is expected that the transaction will be completed shortly after receipt by Thales of all Regulatory Clearances, in the course of the second half of the year 2018.
In accordance with the Offer Document, Thales will request an exemption from the Dutch authority for the financial markets (AFM) to further extend the Acceptance Period beyond 15 August 2018. Subject to receipt of such exemption, the Acceptance Period will be extended until such time as Thales, in consultation with Gemalto, will reasonably believe is necessary to allow the Offer Condition relating to the Regulatory Clearances to be satisfied.
Tendered Shares
During the extended Acceptance Period, Shares tendered may be withdrawn in accordance with the provisions of Article 15, paragraph 3 of the Decree and the procedures described in the Offer Document. Any Shares tendered during the initial Acceptance Period and which are not withdrawn will remain subject to the Offer.
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This is a joint press release by Thales and Gemalto pursuant to Section 15, paragraph 2 of the Dutch decree on public takeover bids (Besluit openbare biedingen Wft) in connection with the recommended all-cash offer by Thales for all the issued and outstanding shares in the capital of Gemalto, including all American depositary shares. This announcement does not constitute an offer, or any solicitation of any offer, to buy or subscribe for any securities in Gemalto. Any offer is only made by means of the Offer Document, which is available as of 27 March 2018.
About Thales
The people we all rely on to make the world go round – they rely on Thales. Our customers come to us with big ambitions: to make life better, to keep us safer. Combining a unique diversity of expertise, talents and cultures, our architects design and deliver extraordinary high technology solutions. Solutions that make tomorrow possible, today. From the bottom of the oceans to the depth of space and cyberspace, we help our customers think smarter and act faster - mastering ever greater complexity and every decisive moment along the way. With 65,000 employees in 56 countries, Thales reported sales of €15.8 billion in 2017.
