Engenco Responds to Elph Investments’ Takeover Bid
Engenco Limited has issued a Target’s Statement in response to Elph Investments’ takeover bid for all issued shares. The Recommending Directors advise shareholders to accept the offer for a premium if they plan to sell soon, but to reject it if they seek long-term value. An Independent Expert’s Report finds the offer reasonable but not fair, valuing shares slightly higher than the offer price. Engenco's current market cap is A$90.06M.
Engenco Limited ( (AU:EGN) ) has provided an announcement.
Engenco Limited has issued a Target’s Statement in response to a takeover bid by Elph Investments Pty Ltd for all issued shares. The Recommending Directors suggest shareholders accept the offer if they plan to sell soon, as it offers a premium over recent trading prices, and a competing bid is unlikely. However, they advise rejecting the offer if shareholders wish to retain their shares for potential long-term value despite associated risks. An Independent Expert’s Report finds the offer reasonable but not fair, valuing shares slightly higher than the offer price.
More about Engenco Limited
Average Trading Volume: 95,549
Technical Sentiment Signal: Hold
Current Market Cap: A$90.06M
Learn more about EGN stock on TipRanks’ Stock Analysis page.
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