SYDNEY, Sept 26 (Reuters) - Australian industry compliance company SAI Global Ltd (SAI) said it will recommend a A$1 billion ($761.10 million) takeover from Hong Kong-based Baring Asia Private Equity, two years after KKR & Co LP KKR.N and a local buyout firm scrapped a higher offer.
SAI said in a statement on Monday its directors would vote unanimously for Baring's A$4.75 per share offer - a one-third premium to its last closing price of A$3.59 - and that they would recommend shareholders do the same.
"Baring Asia's proposal is compelling and represents a significant premium to SAI's share price," SAI Chairman Andrew Dutton said in the statement.
($1 = 1.3139 Australian dollars)
News: SAI Australia's SAI Global backs HK private equity buyout
-
- There are more pages in this discussion • 19 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)