Hansen Technologies set for worst week since Feb 2020 as BGH walks away

Hansen Technologies

09/09/2021 22:44

** Hansen Technologies  HSN.AX  is down nearly 10% this
week, and is heading for its worst week since February 2020,
after private equity firm BGH Capital withdrew its A$1.3 bln
($958.36 mln) bid
    ** BGH walked away from its A$6.5 a share bid on Monday
after conducting due diligence
    ** 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, the software provider to
industries such as energy and water is up ~50% this year
    
($1 = 1.3565 Australian dollars)

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