By Ian Walker

TT Electronics said it agreed to a revised 267.18 million pound ($351.5 million) takeover by Swiss company Cicor Technologies that gives shareholders the chance to take cash, following talks with its major shareholders.

The electrical-solutions manufacturer said Tuesday that accepting shareholders can now choose to take 150 pence in cash for each share held, or 0.0084 of a new Cicor share. The offer is final and won't be increased or improved, the companies said.

This compares with the previous offer of 100 pence in cash and 0.0028 new Cicor shares for each TT share held. The offer valued each TT share at 155 pence based on Cicor's share price at the time and was a 63.5% premium to the London-listed company's closing share price of 94.80 pence the day before.

Late last month TT Electronics' largest shareholder DBAY Advisors said it didn't support the planned 287 million-pound takeover by Cicor, saying it was happy with the progress the company was making.

DBAY, which owns 16.5% of TT's issued share capital, didn't immediately respond to a request for comment.

TT Electronic shares closed Monday at 141.60 pence, implying a market capitalization of 252.5 million pounds. They are up 34% over the year to date.

Write to Ian Walker at ian.walker@wsj.com

(END) Dow Jones Newswires

November 18, 2025 02:59 ET (07:59 GMT)

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