Aspen Group Limited (AU:APZ) has released an update.
Eureka Group Holdings Limited has announced that both a major shareholder, Filetron, and its own directors are rejecting Aspen Group Limited’s unconditional takeover offer, finding it undervalues Eureka shares, offering a 15.1% discount to the current market price. An independent expert concurs with Eureka’s board, advising shareholders the offer is neither fair nor reasonable. As a result, Aspen will not reach the 90% acquisition threshold, and Eureka’s board is urging shareholders to reject the offer.
For further insights into AU:APZ stock, check out TipRanks’ Stock Analysis page.
