Dixon Ticonderoga to sell up

20 December 2004 – Heathrow (FL): Dixon Ticonderoga has agreed to be taken over by privately held Italian rival Fila-Fabbrica, in a cash deal valued at $22.5 million.

The acquisition, based on an estimated 3.2 million outstanding Dixon shares, caused the company’s share price to rise $0.94, or 15.7 per cent, to $6.93 in recent trading on the American Stock Exchange.

CEO of Fila, Massimo Candela, said in a statement: "This transaction is an example of our commitment to growth, even in a highly competitive environment such as the American market."

The sale is likely to start around the 7 January.