HarbourVest Acquisition GmbH has extended its initial offer period for all bearer shares of Absolute Private Equity Ltd (Absolute) currently in circulation, until 26 July 11.
This extension is due to an order of the Swiss Takeover Board (TOB) dated 15 July 2011, in which the TOB confirmed that the offer as amended on 14 July 2011 complies with the statutory provisions relating to public tender offers. In the order, the TOB instructed the board of directors of Absolute to publish an addendum to its additional report of 13 July 2011 in which the board of Absolute states the reasons it agreed to increase the reimbursement of the transaction costs (break-fee) of HarbourVest.
The publication of this addendum causes a delay with respect to the offer, and therefore the TOB ordered HarbourVest Acquisition GmbH to publish an amended indicative timetable and to make sure that the Offer remains open for at least five trading days after the publication of the addendum. Accordingly, the initial offer period of the Offer is now expected to end on 26 July 2011.
