Cobra finally reaches agreement on £7.3m cash offer from Burrows' Alto Group
The directors of Cobra have reached an agreement on the terms of a recommended £7.3m cash offer to be made by Alto for the entire issued and to be issued share capital of the broker.
The offer price represents a discount of approximately 17% on the closing price of 24p per Cobra share on 2 April 2012 (being the last business day prior to the commencement of the offer period) and is equal to the closing price of 20p per Cobra share on 28 June 2012 (being the last business day prior to the publication of this announcement).
Alto is the newly incorporated company in England and Wales formed by Stephen Burrows, chief executive of Cobra, for the specific purpose of making the
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