Eureka Group Rejects Aspen’s Takeover Bid

Eureka Group Holdings Limited (AU:EGH) has released an update.

Eureka Group Holdings Limited’s Board has urged shareholders to reject Aspen Group Limited’s revised takeover offer, deeming it inadequate. They highlight that not only does the offer undervalue Eureka shares compared to independent expert valuations and market trading prices, but also that significant shareholders, including Filetron and Eureka Directors, have expressed their refusal to accept the revised bid. Consequently, Aspen’s acquisition efforts are unlikely to meet the compulsory acquisition threshold, failing to achieve the merger benefits it has proposed.

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