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Gerard Lighting Group Limited (ASX:GLG) has welcomed a $186 million takeover offer from Lighting Group Australia Pty Ltd. which is owned by private equity group CHAMP.
The offer price of $1.05 per share represents a 40 per cent premium to the company’s closing price of $0.75 last Friday.
The lighting manufacturer entered into a trading halt on Monday.
Gerard’s Deputy Chairman says the directors believed the offer is an opportunity for shareholders to secure an attractive premium for their shares.
In the first half of the 2012 financial year Gerard generated a net profit of $8.1 million.
News: Gerard welcomes $186M takeover bid
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