Cubic Corp. Accepts Revised Proposal From Veritas And Evergreen - Quick Facts

(RTTNews) - Cubic Corp. (CUB) has accepted a proposal from Veritas Capital and Evergreen Coast Capital Corporation, an affiliate of Elliott Investment Management L.P., to increase the price per share of their pending acquisition of Cubic to $75.00 per share in cash. The all-cash deal will be valued at approximately $3.0 billion, including the assumption of debt. The Special Meeting of shareholders to adopt the Amended Agreement remains scheduled for April 27, 2021.

Cubic said its Board gave due consideration to the revised proposal it received from Singapore Technologies Engineering Ltd to acquire the Company for $78.00 per share. The Board determined that, based on the superior certainty and anticipated timing of closing the existing transaction with Veritas and Evergreen, the revised proposal from Veritas and Evergreen was in the best interests of all Cubic's shareholders.