Published by Rafe Blandford at 10:55 UTC, June 5th 2008
The European Commission has announced unconditional approval of Nokia's acquisition of Trolltech. Nokia can now proceed with the final stages of acquisition, which are expected to be completed quickly. Trolltech's Qt, a cross platform graphics/GUI tookit, is the principal reason for the acquisition and will be an important part of Nokia's cross platform development strategy.
Here's an extract from the press release:
The European Commission today announced that it has unconditionally approved Nokia's voluntary tender offer for all the shares in Trolltech ASA (OSE: Troll). Nokia will now proceed with the consummation of the offer.
Settlement for the shares tendered in the offer is expected to take place on June 6, 2008. In accordance with section 3.9 of the offer document, Nokia has determined that the tendered shares shall be acquired by its wholly owned subsidiary, Nokia Norge AS.
Following the completion of the offer, Nokia owns 52 411 283 shares and votes in Trolltech, representing 99.4% of all the shares outstanding in Trolltech.
Nokia intends to initiate a compulsory acquisition of the remaining shares in Trolltech in accordance with section 4-25 of the Norwegian Public Limited Companies Act. Such compulsory acquisition of shares is expected to take effect on or about 6 June, 2008. In addition, Nokia will apply for the delisting of Trolltech's share from the Oslo Stock Exchange, effective as soon as possible.
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