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NDS Group announces deadline extension in going-private transaction
By Lisa Kerner
Charlotte, N.C., Dec. 30 - NDS Group plc extended the deadline for the return of American Depositary Shares instruction cards by NDS ADS holders to 5 p.m. ET on Jan. 5 from Dec. 30, according to a company news release.
As previously reported, NDS Group agreed to be taken private by its parent company, News Corp., and two newly incorporated subsidiaries of funds advised by Permira Advisers LLP.
Under the companies' scheme of arrangement, NDS shareholders will receive $63 cash per series A ordinary share, it was previously reported.
Included in the arrangement are shares represented by ADS traded on Nasdaq.
Approximately 67% of the NDS series B ordinary shares held by News Corp. will be cancelled in exchange for $63 per share in a mix of about $1.52 billion in cash and a $242 million vendor note, a prior news release said.
NDS Group, a News Corp. subsidiary based in West Drayton, England, supplies open end-to-end digital technology and services to pay-television platform operators and content providers.
News Corp. is a New York-based media company.
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