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

March 28 (Reuters) - United Malt Group Ltd (UMG) :

• 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