Datwyler won’t increase its takeover offer for Raspberry Pi maker Premier Farnell
An original bid to takeover the maker of the Raspberry Pi mini-computer will not be increased, the company behind the offer said today.
Swiss manufacturer Datwyler will not up its bid of 165 pence per share after US tech firm Avent swooped in with a a higher offer of 185 pence per share.
Datwyler will now not be able to make another one for 12 months according to UK takeover rules.
Read more: Higher bidder emerges for Raspberry Pi maker Premier Farnell
Premier Farnell backed the higher offer from Avent, withdrawing its support for Datwyler's bid, giving it an enterprise value of £792m. Avent offered a 12.1 per cent premium on Datwyler's bid and a nearly 70 per cent premium on the the value of shares prior to either takeover offer.
Shares in Premier Farnell remained flat as markets opened on Monday morning at 183.50 pence per share.