Equals takeover update: bid deadline extended as competing offers emerge

Apr 17, 2024

Now this is getting interesting (to me at least).

Sure today's news - that the 'Put Up or Shut Up' (PUSU) deadline for interested buyers to submit binding bids for Equals (EQLS) has been extended again to 5pm Wed 15th May - might seem a little protracted.

Yet equally, the Board has apparently received indicative non-binding proposals from BOTH Madison Dearborn Partners and the Consortium (ie Embedded Finance / Railsr and TowerBrook Capital).

Personally, I interpret this to mean that both potential parties now need to 'sharpen their pencils a little' in order for their offers to win the auction and/or be accepted by Board.

Plus, as indicated by yesterday's strong FY23 results and YTD'24 trading - even if the Strategic Review ends without an agreed takeover, then I suspect shareholders will ultimately benefit anyway.

Nonetheless let's see what the next few weeks bring.

Follow News & Updates from Equals Group:

Disclaimer & Declaration of Interest

The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.

Market Sectors

Georgina Energy secures equity and debt funding from new institutional investor

The real reason the gold price is so high, and who will be the winners and losers

Mindflair welcomes Sure Valley Ventures’ investment in hybrid AI company

Amazing AI makes initial digital asset treasury purchase

Georgina Energy prepares to start pre-drilling works at Hussar EP513

Restore: Research

Diales Group: Research

Ultimate Products: Research

IG Design Group: Research

Watkin Jones: Research

Mining Matters: Manganese in Botswana with Charlie Fitzroy of Giyani Metals

Operating in Nevada: Great Western Mining

Mining Matters: Anthony Viljoen, the CEO of Andrada Mining

Cailey Barker: Specialty metals, gold, and the state of the mining sector

Mining Matters: SP Angel’s John Meyer on Commodities, Capital, and Change

Equals takeover update: bid deadline extended as competing offers emerge