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Investing.com -- U.K.’s Rosebank Industries PLC (LON:ROSE) said on Monday it intends to resume negotiations to acquire U.S.-based Electrical Components International (ECI) for a price under $1.9 billion.
The terms of the proposed acquisition are currently confidential, but Rosebank has indicated that the deal would be financed through a mix of equity and debt.
The equity component involves a fully underwritten offering expected to raise £1.2 billion at £3 per share, open to both existing and potential new shareholders.
Earlier this year, Rosebank had initiated talks to acquire ECI in February. However, the firm decided to drop the plans in March due to political and equity market volatility.
As of Monday, Rosebank has stated that the complete terms of the proposed deal are still confidential at this point.
Trading of Rosebank’s ordinary shares has been temporarily suspended.