Brief: United Malt Group Got Proposal To Acquire All Shares of Co For A$5.00 In Cash Per Share

United Malt

27/03/2023 22:47

March 28 (Reuters) - United Malt Group Ltd  UMG.AX :
    * INDICATIVE PROPOSAL FROM MALTERIES SOUFFLET
    * ENTERED INTO A PROCESS AND EXCLUSIVITY DEED WITH MALTERIES
SOUFFLET SAS
    * INDICATIVE PROPOSAL FOLLOWS AN UNSOLICITED APPROACH FROM
MALTERIES SOUFFLET AND ITS MAJOR SHAREHOLDER, INVIVO GROUP
    * PROPOSAL TO ACQUIRE ALL OF ORDINARY SHARES ON ISSUE IN
UNITED
MALT FOR A$5.00 IN CASH PER UNITED MALT SHARE
    * BOARD DETERMINED IT IS IN BEST INTERESTS OF SHAREHOLDERS
FOR CO
TO ENGAGE PROVIDE DUE DILIGENCE ACCESS TO MALTERIES SOUFFLET
    * DETERMINED IT IS IN BEST INTERESTS OF CO'S SHAREHOLDERS TO
ENGAGE WITH & PROVIDE DUE DILIGENCE ACCESS TO MALTERIES SOUFFLET
    * UNITED MALT SHAREHOLDERS DO NOT NEED TO TAKE ANY ACTION IN
RELATION TO INDICATIVE PROPOSAL OR POTENTIAL TRANSACTION.
    * DUE DILIGENCE ACCESS TO MALTERIES SOUFFLET TO ASSIST IT TO
PROVIDE BINDING PROPOSAL FOR POTENTIAL TRANSACTION TO UNITED
MALT BOARD
    * APPOINTED MACQUARIE CAPITAL AS ITS FINANCIAL ADVISER, AND
GILBERT + TOBIN AS ITS LEGAL ADVISER
    * MALTERIES SOUFFLET SUBMITTED SEVERAL CONFIDENTIAL,
NON-BINDING &
INDICATIVE PROPOSALS TO CO: ON 16 DEC 2022, FOR A$4.15 PER SHARE
    * ON 14 MARCH , MALTERIES SOUFFLET SUBMITTED INDICATIVE
PROPOSAL
AT INDICATIVE PROPOSAL PRICE OF A$5.00 IN CASH PER SHARE
    * MALTERIES SOUFFLET ALSO SUBMITTED NON-BINDING & INDICATIVE
PROPOSALS TO CO ON 6 FEB FOR A$4.50 IN CASH PER SHARE
    * ON 8 MARCH MALTERIES SOUFFLET SUBMITTED INDICATIVE
PROPOSAL AT
INDICATIVE PROPOSAL PRICE FOR A$4.90 IN CASH PER SHARE

Source text for Eikon:  ID:nASX5L9DD6 
Further company coverage:  UMG.AX 

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