Nokia to acquire Symbian Limited

Nokia today announced it has launched a cash offer to acquire all of the shares of Symbian Limited that Nokia does not already own, at a price of EUR 3.647 per share.  The net cash outlay from Nokia to purchase the approximately 52% of Symbian Limited shares it does not already own will be approximately EUR 264 million. 

Nokia has received irrevocable undertakings from Sony Ericsson Mobile Communications AB, Telefonaktiebolaget LM Ericsson (publ), Panasonic Mobile Communications Co. Ltd. and Siemens International Holding BV to accept the offer, representing approximately 91% of the Symbian shares subject to the offer.  Nokia also expects Samsung Electronics Co. Ltd. to accept the offer.   

The acquisition is a fundamental step in the establishment of the Symbian Foundation, announced today by Nokia, together with AT&T, LG Electronics, Motorola, NTT DOCOMO, Samsung, Sony Ericsson, STMicroelectronics, Texas Instruments and Vodafone. More information about the planned foundation can be found at www.symbianfoundation.org.

Source and details: Nokia Press Release