Humm Group Nears Confidentiality Deal With Credit Corp on Takeover Proposal

Humm Group Limited ( (AU:HUM) ) has shared an update.

Humm Group has confirmed that it is close to finalising a confidentiality deed with Credit Corp Group, a key step in progressing Credit Corp’s confidential, conditional and non-binding proposal to acquire all shares in the company. The due diligence data room has already been populated and the deed is believed to be in settled form, with execution expected in the coming days before access is granted to Credit Corp’s representatives.

The update follows a series of intensive exchanges between the parties’ advisers since late February, undertaken under voluntary undertakings provided by Humm to the Takeovers Panel. The company has told shareholders they do not need to take any action at this stage and has committed to continue updating the market in line with its continuous disclosure obligations and its undertakings to the Panel.

The most recent analyst rating on (AU:HUM) stock is a Hold with a A$0.72 price target. To see the full list of analyst forecasts on Humm Group Limited stock, see the AU:HUM Stock Forecast page.

More about Humm Group Limited

Humm Group Limited is a diversified financial services company specialising in instalment plans and point-of-sale payment solutions that enable businesses and consumers to make large purchases. The group operates across Australia, New Zealand, Ireland, Canada and the United Kingdom, with principal activities spanning commercial lending, point-of-sale payment plans, and branded credit cards in both the Australian and New Zealand markets.

YTD Price Performance: -1.32%

Average Trading Volume: 1,708,559

Technical Sentiment Signal: Buy

Current Market Cap: A$337.5M

For a thorough assessment of HUM stock, go to TipRanks’ Stock Analysis page.