Brief: Superloop Says Rejection Of Indicative And Non-Binding Proposal From Aussie Broadband

Superloop

26/02/2024 06:10

Feb 26 (Reuters) - Superloop Ltd  SLC.AX :
    * REJECTION OF INDICATIVE AND NON-BINDING PROPOSAL
    * BELIEVES THAT INDICATIVE PROPOSAL IS OPPORTUNISTIC AND
FUNDAMENTALLY UNDERVALUES SUPERLOOP
    * PROPOSED PURCHASE PRICE WILL BE ADJUSTED FOR ANY DIVIDENDS
OR
CAPITAL RETURNS MADE BY SUPERLOOP PRIOR TO TRANSACTION
    * BOARD DOES NOT INTEND TO ENGAGE WITH ABB ON INDICATIVE
PROPOSAL
    * UNDER TERMS OF INDICATIVE PROPOSAL, SUPERLOOP SHAREHOLDERS
TO
RECEIVE 0.21 ABB SHARES FOR EACH SUPERLOOP SHARE HELD
    * INDICATIVE PROPOSAL IMPLIES VALUE OF A$0.95 PER SUPERLOOP
SHARE
    * REJECTION OF INDICATIVE AND NON-BINDING PROPOSAL FROM
AUSSIE
BROADBAND

Source text for Eikon:  ID:nASX3ZkDyv 
Further company coverage:  SLC.AX