EGH 1.87% 52.5¢ eureka group holdings limited

News: EGH Eureka Group Considers Current Offer From Aspen Inadequate And That It Undervalues Eureka

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    Feb 9 (Reuters) - Eureka Group Ltd (APZ) :

    • UPDATE ON PROPOSED TAKEOVER OFFER,APZ
    • HAS NOT RECEIVED A FORMAL OFFER OR A BIDDER'S STATEMENT FROM ASPEN
    • ALL-SCRIP PROPOSED BID PROPOSES A MERGER RATIO OF 0.26 ASPEN SECURITIES PER EUREKA SHARE
    • EUREKA BOARD CONSIDERS CURRENT OFFER INADEQUATE AND THAT IT UNDERVALUES EUREKA
    • BOARD NOTES THAT NO CONTACT WAS MADE BY ASPEN TO EUREKA PRIOR TO OR SINCE IT ANNOUNCED TO ASX ITS INTENDED TAKEOVER BID
    • ADVISES SHAREHOLDERS TO TAKE NO ACTION
    • CONSIDERS IMPLIED BID PRICE OF 43.6 AU CENTS PER EUREKA SHARE REPRESENTS EITHER DISCOUNT OR NO MEANINGFUL PREMIUM OVER CO'S SHARE PRICE
 
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