IQGeo Group PLC (GB:IQG) has released an update.
IQGeo Group PLC has been targeted for a recommended cash acquisition by Geologist Bidco Limited, backed by KKR funds, with the transaction structured through a Court-sanctioned scheme of arrangement. Following the initial agreement, Charles Stanley & Co Ltd has reduced their shareholding in IQGeo, with their letter of intent now pertaining to approximately 6.93% of IQGeo’s issued share capital. Overall, commitments to support the acquisition amount to around 55.19% of IQGeo’s shares.
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