Shareholders clear Computerlinks takeover

Security distributor to move from public to private ownership following green light from shareholders

Computerlinks felt it was no longer suited to life on the stock exchange

Security distributor Computerlinks is bound for private hands after receiving shareholder clearance for its €104m (£83m) takeover by Barclays Private Equity.

The Check Point, Nokia and Blue Coat partner is currently listed on the Frankfurt stock exchange, but management unanimously backed Barclays’ approach due to concerns over its waning market capitalisation.

The €15.5 per share offer has now been accepted by shareholders representing 84.15 per cent of Computerlinks’ share capital – clearly exceeding the minimum 75 per cent acceptance rate.

Merger clearance from the European Commission remains the only hurdle, although the pan-European distributor expects that to be granted on 27 August.

Michael Bork, managing director of Barclays Private Equity, said: “The success of the offer shows the confidence of the Computerlinks shareholders in pushing ahead with the strong growth of the company outside of the stock exchange with Barclays Private Equity as a reliable and financially strong partner.”

Stephan Link, chief executive of Computerlinks AG, said: “We are very pleased to have found, in Barclays Private Equity, an investor which has both a fundamental understanding of our business model and the expertise to bring forward the strategic development of Computerlinks in cooperation with the existing management.

“Now, together with Barclays, we will make even more targeted efforts to exploit market opportunities and accelerate our market growth.”