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The board of SAI Global Limited (ASX:SAI) is being courted by a number of interested parties and has decided to open up a formal process to explore its best strategy going forward.
Last week, SAI Global received an unsolicited and non-binding proposal from Pacific Equity Partners which valued the company at about $1.1 billion. Since then, the information services company has been approached by a number of other interested parties.
The board has said it is open to engaging with PEP and is also in the process of establishing a virtual data room that can provide internal financial information and register expressions of interest from other parties.
SAI Global has said it doesn’t guarantee any binding proposal will eventuate and the company plans to continue with its strategy of improving operations.
SAI Global last reported a net profit of $18 million for the half year ended 30th December 2013.
