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Posts Tagged ‘csg’
News - Thursday, September 29, 2011 17:32 - 3 Comments
CSG receives mysterious takeover offer
news Diversified listed IT services group CSG today revealed it had received a takeover offer from an un-named suitor which saw shareholders offered a substantial premium on their current holding in the company.
“CSG announces that it has received a non-binding, indicative and confidential proposal to acquire all of the issued fully-paid ordinary shares of the company by way of an off-market takeover offer,” the company said in a sparsely worded announcement to the Australian Stock Exchange this morning. “The proposed offer price is $1.20 cash per share with no adjustment for the final dividend of $0.03 per share to be paid on 4 October 2011.”
CSG said its board had not yet formed a view on whether to recommend the buyout to its shareholders and recommended they take no action yet. It has advised Macquarie Capital as its financial adviser and DLA Piper Australia as its legal advisor and pans to make a further announcement on the matter “in due course”.











