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DMH Stallard has advised Espial Group Inc. ("Espial")
in relation to its acquisition of AIM-listed ANT plc
("ANT"), which was made through a takeover offer effected
by way of a scheme of arrangement under the Companies Act
2006. At a price of 20.5 pence per ANT share, ANT was
valued, for the purposes of the transaction, at Ł4.979
million.
Espial, whose shares are listed on the Toronto Stock Exchange,
is a leading provider of TV Browser and TV Everywhere software
solutions to consumer electronics manufacturers and
telecommunications service providers. Based in Cambridge, ANT
is similarly a leading provider of software solutions and services
to TV device vendors, broadcasters and operators.
The acquisition was announced on 30 November 2012 and, following
approval by ANT shareholders and sanction by the High Court of
Justice, the scheme of arrangement became effective on 4 February
2013.
DMH Stallard's deal team, led by
Jonathan Deverill, included Chris Simmons and Ben Gale. Espial
was also advised on the acquisition by its Canadian counsel, Randy
Taylor of LaBarge Weinstein, Ottawa.
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