Iress/EQT deal given 10-day extension

iress/EQT/

10 September 2021
| By Chris Dastoor |
image
image
expand image

Iress has agreed to a 10-day extension of the exclusivity period with EQT Fund Management to acquire all of Iress’ shares via a scheme of arrangement.

The 30-day exclusionary period was announced after Iress had received what it considered to be an appropriate takeover for the acquisition, after rebuffing previous attempts.

“Discussion with EQT are progressing and Iress has agreed to grant an additional 10 days of exclusivity to EQT on the same terms as previously announced to provide further time for EQT to complete its diligence for an agreement to be finalised,” Iress said.

“The board will update shareholders and the market in due course. The board recommends that Iress shareholders take no action in relation to the proposal by EQT. There is no certainty that the proposal will result in a transaction.”

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

So we are now underwriting criminal scams?...

2 months 3 weeks ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

2 months 3 weeks ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

4 months 4 weeks ago

ASIC has suspended the Australian Financial Services Licence of a Melbourne-based financial advice firm....

1 week 4 days ago

The corporate regulator has issued infringement notices to three AFSLs whose financial advisers provided personal advice to a retail client while unregistered....

2 weeks 2 days ago

ASIC has released the results of its first adviser exam to be held in 2025, with 241 candidates attempting the test....

3 weeks ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND