StockMarketWire.com - Pest control group TyraTech said it had agreed to be acquired by largest shareholder American Vanguard.

American Vanguard had offered 3.15 pence per share for the 65.6% of TyraTech it didn't already own, representing a 54% premium to TyraTech's closing price on Thursday.

TyraTech also said it's first-half net losses had deepened to $1.9m, compared to losses of $231k on-year.

'The independent directors believe TyraTech's shareholders, employees and business will be better positioned following the company's acquisition by American Vanguard than if TyraTech had remained as an independent entity,' chairman Jose Barella said.

At 1:10pm: [LON:TYR] TyraTech Inc share price was +0.6p at 2.85p



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