Vonex Limited (AU:VN8) has released an update.
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Vonex Limited’s board advises shareholders to accept MaxoTel’s 4.4 cent all-cash offer, citing the uncertainty of Swoop Holdings’ takeover bid, which cannot proceed due to MaxoTel’s substantial shareholding. With MaxoTel and the board controlling 51.7% of Vonex shares, Swoop cannot meet its 50.1% condition, prompting Vonex to seek clarity from Swoop.
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