Equals announces another extension to takeover deadline
By Josh White
Date: Wednesday 20 Nov 2024
(Sharecast News) - Equals Group announced another extension to the 'put up or shut up' (PUSU) deadline on Wednesday, for a potential all-cash acquisition by a consortium led by Embedded Finance (Railsr), TowerBrook Capital Partners, and JC Flowers.
The AIM-traded firm said the consortium's revised proposal, announced on 30 October, included an offer of 135p per share plus a special dividend of 2p per share, payable on completion.
It said that while the Consortium haad completed due diligence on Equals, the formal announcement under the Takeover Code required it to finalise internal negotiations regarding the integration of Railsr into the transaction.
The Takeover Panel had now extended the PUSU deadline to 1700 GMT on 11 December to facilitate that process.
Equals noted that the proposed special dividend was separate from its interim dividend of 1p per share, which was announced in September and paid in October.
At 1101 GMT, shares in Equals Group were down 4.31% at 118.66p.
Reporting by Josh White for Sharecast.com.
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