Close the Loop Ltd. Considers Acquisition Proposal

Close the Loop Ltd. (AU:CLG) has released an update.

Close the Loop Ltd. has received a proposal from Adamantem Capital to acquire all its shares for $0.27 each, marking a 49% premium on recent stock values. While the proposal is non-binding and subject to conditions, the company’s directors are in favor of progressing discussions and recommend shareholders consider the offer, pending further due diligence. Despite this exciting development, shareholders are advised that no immediate action is required as there is no guarantee of a finalized deal.

For further insights into AU:CLG stock, check out TipRanks’ Stock Analysis page.