AUCyber Limited (ASX: CYB) Receives Conditional Takeover Proposal
Confidential Takeover Proposal
AUCyber Limited (ASX: CYB) has received a non-binding, highly conditional takeover proposal from Interactive Pty Ltd. The proposal offers $0.165 in cash for each ordinary share in AUCyber via a scheme of arrangement structure.
Conditions Attached
The Interactive Proposal is subject to extensive conditions including satisfactory due diligence, unanimous recommendation from the AUCyber Board, and requisite change of control consents. Other conditions encompass final board approvals from Interactive and the absence of material adverse changes. The Board will evaluate if this proposal qualifies as ‘superior’ to a previous offer from 5GN.
Shareholder Guidance
AUCyber advises shareholders to TAKE NO ACTION regarding 5GN’s Revised Offer. The Board aims to provide recommendations to shareholders promptly as they assess the status of the Interactive Proposal. There is no certainty that a binding transaction will be put forward for consideration.
This announcement has been authorised by the Executive Chair.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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