Hansen Tech eyes worst week since Feb 2020 after BGH scraps offer

Hansen Technologies

10/09/2021 01:55

(Adds Friday's movement, updates numbers)
    ** Hansen Technologies  HSN.AX  heads for worst week since
Feb 2020 after private equity firm BGH Capital withdraws its
A$1.3 bln ($958.36 mln) takeover bid
    ** Software provider was last down over 10% for this week
    ** On Friday, HSN down as much as 1.4% at A$13.79
    ** BGH walked away from its A$6.5 a share bid on Monday
after conducting due diligence  urn:newsml:reuters.com:*:nFWN2Q50DK
    ** The board of HSN had planned to recommend the proposal it
received in June to shareholders  
    ** On Monday, HSN said BGH had not raised any material issue
over its operations or strategy 
    ** Despite the week's plunge, shares of the software
provider to industries such as energy and water are up ~50% this
year to Thursday
        
($1 = 1.3565 Australian dollars)

 (Reporting by Nikhil Kurian Nainan)
 ((NikhilKurian.Nainan@thomsonreuters.com; Twitter:
@NikhilKurianN))