Taylor Wessing advises Synergy Healthcare plc on its £181 million takeover offer for Isotron plc
Taylor Wessing is advising Synergy Healthcare plc, the AIM-quoted healthcare services provider, on its recommended, increased £181 million takeover offer for Isotron plc, a fully quoted provider of contract sterilisation services.
Synergy Healthcare’s offer is on a share-for-share basis, with a full cash alternative. The cash element of the offer will be financed from new bank resources provided by Bank of Scotland.
Taylor Wessing acted for Synergy Healthcare on its original hostile offer for Isotron, and subsequently on the increase in the value of the offer to secure a recommendation from the board of Isotron. The increased recommended offer was declared wholly unconditional (other than admission of the Synergy consideration shares to AIM) on 2 January 2007.
Partner, Tim Oldridge, led the Corporate team that included associates Vanessa Kitching, Guy Morgan, and Ann Casey. Finance & Projects partner, Dominic Ross, and associate, Emily McGee, advised on the new bank facilities.
Tim Oldridge commented: "Having acted for Synergy since its IPO on AIM in 2001, we are delighted to be assisting Synergy on its takeover of Isotron, representing as it does another major step in its development".
Synergy Healthcare's nominated adviser and broker was Brewin Dolphin Securities. Travers Smith acted for Brewin Dolphin Securities, DLA Piper acted for Bank of Scotland. JP Morgan Cazenove and Ashurst acted for Isotron.
Notes to editors
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