Per the article:Genex Power’s shareholders are expected to be told the company has agreed to binding terms with its suitor J-Power.
Genex Power owns the Kidston Clean Energy Hub at the old Kidston Gold Mine, west of Townsville.
It comes after J-Power asked for two extensions to due diligence to its latest bid, which is a 49 per cent premium to the undisturbed share price and10 per cent higher than Skip Capital’s rejected bid from late 2022.
Genex shares were halted on Friday morning pending the announcement at25¢ per share.
The target board is expected to recommend the bid, subject to obtaining a nod from an independent expert.
Skip has held onto its 20 per cent stake and is expected to be pivotal to the vote.
It will all come down to what Skip does.
