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The latest announcement is out from Advanced Innergy Holdings Ltd. ( (AU:AIH) ).
Matrix Composites & Engineering has received a confidential, non-binding and indicative cash proposal from Advanced Innergy Holdings to acquire all Matrix shares at $0.40 per share, subject to conditions such as due diligence, regulatory approvals and final transaction documentation. Advanced Innergy has also secured call option arrangements over 19.9% of Matrix’s shares, while the Matrix board, now assessing the proposal with its advisers, has urged shareholders not to take action until further updates are provided under its continuous disclosure obligations.
The most recent analyst rating on (AU:AIH) stock is a Buy with a A$1.45 price target. To see the full list of analyst forecasts on Advanced Innergy Holdings Ltd. stock, see the AU:AIH Stock Forecast page.
More about Advanced Innergy Holdings Ltd.
Matrix Composites & Engineering is an Australian-based specialist in the design, engineering and manufacture of composite and advanced material technology solutions for the oil and gas, civil and infrastructure, resources, defence and transportation sectors. With more than two decades of experience and offices in Australia and the United States, the company serves a global customer base as a major exporter, offering turnkey solutions supported by a worldwide network.
Average Trading Volume: 140,372
Technical Sentiment Signal: Strong Sell
See more data about AIH stock on TipRanks’ Stock Analysis page.