The acquirer concerns me. The announcement only noted their name, Australian Trailer Solutions Group Pty Ltd (ATSG), and that Maxitrans will be providing $4m of vendor finance to them (a sign of the acquirer's weak financial position).
A quick look into ATSG suggests it is connected to AUSTRALIAN INFRASTRUCTURE SERVICES GROUP PTY LTD, which was previously known as Tandem Corp.
https://opencorporates.com/companies/au/614717261
https://www.dnb.com/business-directory/company-profiles.infrastructure_services_group_(australia)_pty_ltd.dfdb2017b504f80229a042b8c97ac622.html
Tandem Corp was placed into administration recently https://www.copyright link/work-and-careers/workplace/ifm-backed-contractor-folds-over-sham-contracting-claims-20210706-p58783
Sham contracting claims as far back as 2018. https://www.abc.net.au/news/2018-01-11/sham-contracting-debt-and-distress-workforce-management-company/9321854
They had a cyber-attack last year. https://itwire.com/security/australian-firm-tandem-corp-hit-by-windows-netwalker-ransomware.html
This is far from a done deal in my opinion.
Ann: Trading Halt, page-33
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