Onni Bidco Waives Minimum Acceptance Condition for Innofactor Takeover Bid

In a significant development for investors, Onni Bidco has announced the preliminary results of its voluntary recommended public cash tender offer for all issued shares in Innofactor Plc. In a strategic move, the Offeror has declared that the minimum acceptance condition originally set for the tender offer will be waived. This decision is pivotal in the progress of the takeover, potentially accelerating the acquisition process.

Acceptance Threshold Waiver

Innofactor Plc has made known through a stock exchange release dated September 17, 2024, that Onni Bidco, amidst the tender offer period, has opted to forgo the minimum acceptance condition. The stipulation, which typically necessitates a certain percentage of shareholders to tender their shares before an offer can proceed, will no longer pose an impediment to the acquisition's advancement. This determination signals Onni Bidco's commitment to the completion of the transaction irrespective of the number of shares tendered.

Implications for Shareholders

The removal of the minimum acceptance condition could have immediate effects on Innofactor Plc's shareholders. Shareholders now face a redefined landscape in which to make their decision to tender shares, unencumbered by concerns of the offer potentially falling through due to an insufficient number of acceptances. As the tender offer continues, investors are advised to closely monitor developments and reassess the offer's value to their personal financial strategies.

Continued Tender Offer

Despite this alteration to the offer terms, the tender offer by Onni Bidco remains active. Shareholders still considering their options can tender their shares under the revised conditions. The outcome of the tender offer, which could result in significant ownership changes for Innofactor Plc, will be disclosed in due course as the transaction nears its conclusion.

Innofactor, OnniBidco, TenderOffer