Eureka Group Holdings Limited (AU:EGH) has released an update.
Eureka Group Holdings Limited’s Board and substantial shareholder Filetron have rejected Aspen Group’s unconditional takeover offer of 0.26 Aspen securities for each Eureka share, deeming it inadequate and not in shareholders’ best interests. The offer, now unconditional, values Eureka shares at a significant discount to their current market price, and acceptance would prevent reaching the 90% acquisition threshold and disallow certain tax reliefs. Eureka’s Directors and Independent Expert advise shareholders to reject the offer, maintaining that it is neither fair nor reasonable.
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