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AnchorageGuy · 14-05-2010, 11:19

FLIR Systems acquires Raymarine
FLIR Systems announced today it has entered into a definitive agreement with the administrator of Raymarine plc to acquire all of the outstanding shares of its wholly owned subsidiary, Raymarine Holdings Limited.

LakeSuperior · 14-05-2010, 11:21

Good news! and the better for Raymarine as FLIR is a solid company.

MarkJ · 14-05-2010, 21:26

That is a good result. Far better than one of the competition getting raymarine.

FLIR has, as far as I know, good military contracts and high value civilian but doesnt have much general pricepoint boating equipment

We may be the winners

MarkJ · 15-05-2010, 06:01

More to this than meets the eye!

Higher Garmin offer rejected

Quote:

But, after the market closed, Raymarine said it had sold all of its operating businesses to Flir Systems and a sum of 20p a share could be returned to shareholders.
....

Earlier in the day, Garmin, a US rival, also held talks with the administrators over a similar deal that could have seen 35p a share returned to investors, subject to approval by the competition authorities.

The competition authority approval would have taken some time, I guess. too long for the creditors. Thanks!

And only just in the nickers of time

Quote:

Raymarine enters administration

Electronics company Raymarine plc has called in the administrator after its banking syndicate called in the company's loans on Friday, 14 May.

The company's statement said: "As announced earlier today, Raymarine's banking syndicate informed the Company late last night that they were not willing to grant a further waiver of its current non-compliance with its covenants. The Company has now received a formal written demand from its banking syndicate, whereby the banking syndicate have declared that all loans outstanding under the Raymarine group's banking facilities are immediately due and payable. The Company has advised the banking syndicate that it is unable to meet this demand.

Or maybe thats the signal to really start bidding!

**GordMay** · 15-05-2010, 08:02

Roy M's spy network was right on target.

➥ FLIR Systems, Inc. - FLIR Systems Announces Acquisition of the Stock of Raymarine Holdings

➥ http://www.cruisersforum.com/forums/...ing-35444.html

beneteau-500 · 15-05-2010, 08:50

I wonder how much of the raymarine core business they will keep and how many will lose there jobs now

MarkJ · 15-05-2010, 09:10

Gord, do you see the Flir purchase better than Garmin?

**GordMay** · 15-05-2010, 11:28

I don’t know, and haven’t thought enough, about it, to have an informed opinion.
On the face of it, it seems that Flir wasn’t a competitor of Raymarine’s (as was Garmin); so might suffer less redundancy.

gdecon · 15-05-2010, 14:47

It may not be true that Garmin's offer clearly dominated . I suspect Garmin's offer was viewed as producing considerable regulatory delays. Flir's offer would probably not require any delay for anti-trust review. In addition Flir offered to buy the shares and absorb Raymaine's debt. Was Garmin offering to absorb the debt on top of the share price ?

For what it's worth FLIR claims it intends to expand Raymarine offerings,