Veda board recommends sale to Equifax
Veda Group Limited has entered into a binding agreement which substantially clears the way for its acquisition by big US firm Equifax.
The Veda board announced to the Australian Securities Exchange today that that it had unanimously recommended acceptance of the acquisition offer made by Equifax in October, stating that the the offer price of $2.825 per share is a higher price than the company has traded at since it listed in December, 2013.
Commenting on the transaction, Veda chairman, Dr Helen Nugent said the board had concluded the sale of the company at a significant premium to market was an attractive outcome for shareholders.
Veda has carved out a strong market position servicing the Australian financial services industry with an increasing presence in providing data analytics to the superannuation sector.
Recommended for you
Trustee and fund administration platform MSC Group has promoted Shelley Brown as its chief operations officer, having successfully completed the integration of the Certane Corporate Trust business.
Australian Unity’s group managing director and chief executive has announced his plans to retire at the end of the year after two decades leading the company.
TAL has appointed a senior manager for investment strategy and portfolio management who joins from a lead role at AIA.
Global wealth management platform FNZ has appointed a new group head of APAC, while boutique investment manager TWC Invest welcomes a chief technology officer.
