LONDON -- CSR
As well as the surge in share price, shareholders will benefit from a return of up to $285 million of surplus capital, mostly arising from the announced deal, but also including $40.5 million that's outstanding under a buy-back announced in February 2012.
Joep van Beurden, CEO of CSR, said: "This transaction will accelerate our transformation into a higher gross margin platform company operating in attractive growth markets where we have a leading market position. As a result, we will be a more competitive, more differentiated and more profitable business."
And the good news is set to continue, as CSR expects to report second-quarter revenues at the upper end of the previously announced guidance range of $245 million to $265 million, and remains on track to deliver full-year revenue in line with market consensus revenue estimates.
This morning's update from CSR underlines how exciting shares can become wonderful investments for ordinary investors.
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Jon Wallis doesn't own shares in CSR plc. The Motley Fool has a disclosure policy.
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