CMS advises Synnovia on £48.8m takeover offer
9 September 2019
International law firm CMS has advised Synnovia PLC, a global maker of plastic consumables and components, on its recommended £48.8m takeover offer from funds advised by California-based Camelot Capital Partners.
Under the acquisition's terms, BPF1 Ltd, a company wholly owned by Camelot, will acquire Synnovia for 125 pence per share; a 43% premium to Synnovia's closing price of 87.5 pence on Friday last week. Camelot is the investment manager of Barker Partnership LP, which currently holds a 29.9% stake in Synnovia.
Corporate Partners Nick Blair and Jack Shepherd led the team’s advice to Synnovia, supported by Matthew Willoughby and Mark Hume.