IQGeo Group PLC (GB:IQG) has released an update.
IQGeo Group PLC has been targeted for acquisition by Geologist Bidco Limited, a company owned by funds advised by KKR, through a court-sanctioned scheme of arrangement. Since the initial announcement, Charles Stanley & Co Ltd has reduced its stake in IQGeo, resulting in its letter of intent to support the acquisition now representing about 7.53% of IQGeo’s share capital. The acquisition has garnered approximately 55.81% support from shareholders based on current undertakings and letters of intent.
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