CyanConnode confirms £35m takeover approach from Esyasoft.
AIM-listed smart metering specialist CyanConnode confirmed on Tuesday that it has received an indicative non-binding takeover approach from Esyasoft that values the group at £35m, or 9.75p a share.
Source: Sharecast
In a very brief statement, CyanConnode said there can be no certainty that an offer will be made nor as to the terms of any such offer.
"The CyanConnode board is evaluating the proposal, together with its advisers, and will make a further announcement(s) in due course as and when appropriate," it said, adding that shareholders are advised to take no action.
Under UK takeover rules, UAE-based smart grid technology firm Esyasoft has until 1700 GMT on 3 March to either announce a firm intention to make an offer or walk away.
Halifax is not responsible for the content and accuracy of the Markets News articles. We may not share the views of the author. Understand the risks, please remember the value of your investment can go down as well as up and you may not get back the full amount you invest. We don't provide advice so if you are in any doubt about buying and selling shares or making your own investment decisions we recommend you seek advice from a suitably qualified Financial Advisor. Past performance is not a guide to future performance.
