(Adds details, background on buyout talks in paragraphs 2-5)
Nov 16 (Reuters) - Australia's Pacific Current Group (PAC) said on Thursday it had ended buyout talks with GQG Partners (GQG) and River Capital as it did not receive any binding offers from the suitors.
GQG had offered A$567.3 million ($369.20 million) earlier in the month to buy the asset management company, but failed to receive support from Pacific's largest shareholder, River Capital.
River Capital lobbed a separate A$541.5 million bid on Monday to buy Pacific.
But both did not result in a binding offer that could be recommended to the shareholders, Pacific said on Thursday.
"In light of this, the board has determined to conclude the strategic transaction process and dissolve the Independent Board Committee," the company said in its filing. ($1 = 1.5366 Australian dollars)
(Adds details, background on buyout talks in paragraphs 2-5)...
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Last
$10.40 |
Change
0.090(0.87%) |
Mkt cap ! $536.3M | |||
| Open | High | Low | Value | Volume |
| $10.31 | $10.40 | $10.21 | $374.3K | 36.19K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 794 | $10.30 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $10.42 | 1118 | 1 |
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| Last trade - 16.10pm 18/06/2024 (20 minute delay) ? |
| PAC (ASX) Chart |