Brief: Eureka Group Considers Current Offer From Aspen Inadequate And That It Undervalues Eureka

Eureka group

09/02/2024 01:02

Feb 9 (Reuters) - Eureka Group Ltd  APZ.AX :
    * UPDATE ON PROPOSED TAKEOVER OFFER,APZ
    * HAS NOT RECEIVED A FORMAL OFFER OR A BIDDER'S STATEMENT
FROM
ASPEN
    * ALL-SCRIP PROPOSED BID PROPOSES A MERGER RATIO OF 0.26
ASPEN
SECURITIES PER EUREKA SHARE
    * EUREKA BOARD CONSIDERS CURRENT OFFER INADEQUATE AND THAT
IT
UNDERVALUES EUREKA
    * BOARD NOTES THAT NO CONTACT WAS MADE BY ASPEN TO EUREKA
PRIOR TO
OR SINCE IT ANNOUNCED TO ASX ITS INTENDED TAKEOVER BID
    * ADVISES SHAREHOLDERS TO TAKE NO ACTION
    * CONSIDERS IMPLIED BID PRICE OF 43.6 AU CENTS PER EUREKA
SHARE
REPRESENTS EITHER DISCOUNT OR NO MEANINGFUL PREMIUM OVER CO'S
SHARE PRICE

Source text for Eikon:  ID:nASXKnXC4 
Further company coverage:  APZ.AX 

 ((Reuters.Briefs@thomsonreuters.com;))