360 Capital moves to acquire Evans Dixon


360 Capital Group has made a takeover offer for Evans Dixon.
360 has announced to the Australian Securities Exchange (ASX) that it has made an offer to acquire Evans Dixon via an off-market takeover with the offer price valued at $0.61 per share.
360 said it believed the offer price represented compelling value for Evans Dixon shareholders representing a 142% premium on the company’s most recently reported net tangible assets and a 35% premium to the average price in which the bidder purchased its last portion of its 19.55% stake approximately six weeks ago.
The announcement noted that the trading price of Evans Dixon shares had decreased 79% since the company’s publicly listing in May, 2018.
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