Envirosuite (ASX:EVS) Receives Indicative Acquisition Proposal from Ideagen
Indicative Proposal Details
Envirosuite Limited (ASX: EVS) has received a non-binding, conditional proposal from Ideagen Limited to acquire 100% of its issued securities for A$0.10 per share. This represents a 133% premium to the closing price on 24 February 2025 and a 120% premium to the one-month volume-weighted average price.
Conditions and Next Steps
The proposal is subject to due diligence, negotiation of a binding Scheme Implementation Deed, unanimous board recommendation, and shareholder approval. Ideagen plans to engage with Envirosuite’s major shareholders. MA Moelis Australia has been engaged to handle corporate enquiries.
Strategic Review
Following its recent half-yearly results, Envirosuite is undertaking a strategic review to maximise shareholder value and ensure future growth.
Motley Fool contributor Matt Burgess 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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