Australia's Atturra rises on Cirrus Networks deal
11/09/2023 02:04
** Shares of Atturra Ltd ATA.AX rise as much as 1.7% at
A$0.9, their highest since Aug 30
** Co to acquire Cirrus Networks CNW.AX , a leading managed
services and IT solutions provider, via Scheme of Arrangement
** Says acquisition is expected to be high single-digit
EPS-accretive to Atturra shareholders in FY24
** Under the scheme, Cirrus shareholders will receive
consideration with a total value of A$0.053 per Cirrus share
** Pre-tax anticipated annualised synergies of A$1
mln($639,400)
** Atturra stock down 5.8% this year, as of last close
($1 = 1.5640 Australian dollars)
(Reporting by Aishwarya Nair in Bengaluru)
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