MaxSec Group Limited (MSP) (ASX:MSP) is pleased to announce that Future Fibre Technologies Limited (FFT) (ASX: FFT), a global leader in fibre optic perimeter intrusion detection systems, has announced it intends to make an off-market takeover bid (Offer) for all of the shares it does not hold in ASX listed security company MaxSec Group Limited (MaxSec) (ASX: MSP) (Proposed Acquisition).
FFT currently holds 65,000,000 Maxsec Shares (or approximately 13.7%) The board of Maxsec has indicated it currently intends to recommend the Offer, in the absence of a superior proposal.
The Proposed Acquisition seeks to take advantage of clear synergies between FFT’s perimeter security solutions and MaxSec’s access control and international valuables logistics offering. Yesterday, FFT announced a strategic investment in MaxSec and its intent to explore further investment opportunities in the leading security business.
Under the terms of the Offer, MaxSec Shareholders will be offered one FFT Share for every four MSP Shares.
MSP Price at posting:
4.4¢ Sentiment: None Disclosure: Held
