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Rhipe agrees to A$408M acquisition by Crayon
Rhipe agrees to A$408M acquisition by Crayon
Tells shareholders to vote in favour of the deal
Dominic O Hanlon (Rhipe) Credit: Rhipe
Publicly listed specialist services and Microsoft licensing distributor Rhipe has accepted Crayon’s takeover proposal at A$2.50 per share, valuing the deal at A$408 million.
Shareholders will also receive a fully franked special dividend of up to A$0.13 per share as part of the purchase conditions. The A$408 million value is based on a fully diluted share count of 163.3 million shares.
Rhipe directors are recommending shareholders vote in favour of Crayon’s offer, in the absence of a superior proposal.
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Rhipe confirms Crayon buyout bid
Crayon offers A$2.50 per share, equating to roughly A$402.69 million.
Dominic O Hanlon (Rhipe) Credit: Rhipe
Publicly listed cloud software distributor Rhipe has confirmed it has received an indicative, non-binding takeover offer from Norwegian headquartered IT consultancy Crayon, offering A$2.50 per share, valuing the deal at roughly A$402.69 million.
“There is no certainty that Crayon will submit a binding proposal. However, Rhipe and Crayon are continuing to work together collaboratively to facilitate a satisfactory outcome, Rhipe told shareholders on 1 July.