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Hexagon enters into MoU with Topcon

Sweden: Hexagon AB and Topcon Europe B.V. and Topcon Corporation respectively have entered into a memorandum of understanding (MoU) related to Veripos. Hexagon Acquisition, an indirectly wholly owned subsidiary of Hexagon, has made an unconditional cash offer for all outstanding shares in Veripos which is not owned by Hexagon Acquisition. The acceptance period for the unconditional cash offer expires on 29 January 2014, subject to further extensions but however not beyond 7 February 2014. Hexagon Acquisition owns, and has as per today received acceptances and pre-acceptances for a total of of 9,980,630 shares, representing 30.1 per cent of the outstanding shares in Veripos.

Under the MoU, Hexagon and Topcon will establish a separate joint venture company on an equal partner basis for the purposes of pursuing joint efforts and cooperation in relation to the future development and direction of the services provided under the TerraStar Agreement. Topcon has under the MoU committed to not independently or jointly with other group companies or third parties make a public offer for or otherwise acquire shares in Veripos.

Source: Cision