NZ's Solution Dynamics rises on potential cash and share takeover offer

Being AI

16/09/2024 04:41

** Shares of Solution Dynamics  SDL.NZ  rise as much as 2.5%
to NZ$1.23, their highest since Sept. 2
    ** Stock marks its biggest intraday pct gain since Aug. 29
    ** Customer communications provider confirms non-binding
indicative offer from Being AI  BAI.NZ  for a partial or full
takeover of co 
    ** Says SDL shareholders could take a combination of cash
and BAI shares or all BAI shares as part of the offer
    ** Says board declined BAI’s request for access to
confidential due diligence information
    ** Says no takeover offer has been received
    ** YTD, SDL shares have fallen 15.2% vs a nearly four-fold
rise in BAI stock

 (Reporting by Sneha Kumar in Bengaluru)
 ((Sneha.Kumar@thomsonreuters.com;))