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Investing.com -- Shares of U Blox Holding AG (SIX:UBXN) fell 3.3% on Monday after private equity group Advent International announced plans to buy the Swiss semiconductor company in a cash offer valued at CHF1.05 billion.
Advent is offering CHF135 per share, which represents a 53% premium on the company’s unaffected six-month volume-weighted average price up to Aug. 14, 2025, before reports of a potential takeover surfaced.
It also marks a 32% premium on the average price over the last 60 trading days, U-Blox said in a press release Sunday.
The board of directors unanimously backed the deal and recommended that shareholders accept the offer.
SEO Master Fund LP, the largest single shareholder with about 9% of U-Blox stock, has committed to tendering its shares.
The companies said the transaction remains subject to customary conditions and regulatory approvals.
Closing is expected within six months, after which U-Blox shares will be delisted from the SIX Swiss Exchange.
Despite gaining 80% this year, U-Blox shares remain well below their August 2016 all-time high of CHF246.40, when the company’s market capitalization stood at CHF1.7 billion.
Earlier this year, U-Blox sold its mobile communications business to Irish IoT specialist Trasna and said it would focus on positioning technologies, its core area of expertise.