Deals
Imagination Technologies Agrees to Takeover by Canyon Bridge
- Offer marks latest chapter in Imagination’s troubled year
- U.K. company spurned by Apple in March marking share collapse
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Imagination Technologies Group Plc agreed to be acquired by China-backed private equity firm Canyon Bridge Capital Partners.
Canyon Bridge said it will pay 182 pence a share in cash, or more than 500 million pounds ($675 million), for the U.K. designer of graphics chips. That’s 42 percent more than Imagination’s closing share price on Friday.