Matrix Composites & Engineering Clarifies Merger Proposal Details

An announcement from Matrix Composites & Engineering Ltd ( (AU:MCE) ) is now available.

Matrix Composites & Engineering Ltd has addressed a media article regarding a conditional, non-binding indicative merger proposal from Advanced Innergy Solutions Limited (AIS). The proposal suggests Matrix acquiring all AIS shares in exchange for new Matrix shares, resulting in Matrix shareholders owning 20% and AIS shareholders 80% of the merged entity. The value of the transaction depends on AIS’s valuation, and Matrix’s board has advised shareholders to take no action at this time, promising to keep them informed of any developments.

The most recent analyst rating on (AU:MCE) stock is a Buy with a A$0.44 price target. To see the full list of analyst forecasts on Matrix Composites & Engineering Ltd stock, see the AU:MCE Stock Forecast page.

More about Matrix Composites & Engineering Ltd

Matrix Composites & Engineering specializes in the design, engineering, and manufacture of composite and advanced material technology solutions for industries such as oil and gas, civil and infrastructure, resources, defense, and transportation. With over 20 years of experience, the company is recognized as an industry leader and a major exporter of Australian goods and services, providing turnkey solutions with localized customer support from its offices in Australia and the United States.

YTD Price Performance: -8.33%

Average Trading Volume: 134,875

Technical Sentiment Signal: Sell

Current Market Cap: A$49.24M

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