DLA Piper leads Clarity acquisition
The Birmingham office of DLA Piper has advised Enigmatic Investments on its £10.4m takeover bid for Clarity Commerce Solutions.
The law firm led the successful hostile bid for Basingstoke-based Clarity Commerce Solutions, one of the first deals agreed since the revamp of the Takeover Code on 19 September.
Clarity supplies software solutions for the hospitality, retail, leisure and entertainment sectors.
Originally launched on 27 September at 23 pence per share, Guernsey-based Enigmatic's offer was improved to 25 pence per share on 13 November, valuing Clarity at £10.4m.
It was declared wholly unconditional yesterday (1 December 2011).
Enigmatic is a newly established-company that was formed for the purposes of making the offer. It is wholly-owned by BECAP Fund LP, a Guernsey limited partnership.
The DLA Piper team advising Enigmatic was led by corporate partner John Campion and included corporate associate Mike Jackson, both based in the firm's Birmingham office.
