TT Electronics Shareholders Decline Cicor's Acquisition Offer

On 7 January 2026, TT Electronics Plc shareholders rejected the acquisition proposal by Cicor Technologies Ltd. The offer, which had full backing from TT’s board, failed to achieve the necessary 75% approval at the Court and General Meetings. Consequently, the proposed scheme of arrangement dated 25 November 2025 under the UK Takeover Code will not proceed. Cicor CEO Alexander Hagemann expressed regret over the outcome, emphasizing the strategic potential of combining both companies.

The rejection results in Cicor recording approximately CHF 5 million as operating expenses and CHF 2 million as financial expenses for advisory fees and other costs. Consequently, Cicor revised its 2025 EBITDA forecast to CHF 53-57 million, adjusting for one-off effects expected to range between CHF 63-67 million.