UK's ECSC Group almost triples on offer by Daisy Corp

Ecsc

31/03/2023 13:36

** Shares of ECSC Group  ECSC.L  rise as much as 175% to
nearly 10-month high of 55p
    ** The cyber-security service provider agrees to be acquired
by IT services provider Daisy Corporate Services, valuing ECSC
at about 5.4 mln pounds ($6.7 mln)
    ** Proposed all-cash deal for 54.02p per ECSC share 
    ** Cos in joint statement say cash consideration at 170.1%
premium to ECSC's closing price of 20p on the last practicable
date
    ** Stock on track to log record intraday gains, if trend
holds 
    ** Up to last close, stock down ~25% so far this year 

($1 = 0.8082 pounds)

 (Reporting by Prerna Bedi in Bengaluru)
 ((Prerna.Bedi@thomsonreuters.com; +91 98052 24616;))