Aspen Group Limited (AU:APZ) has released an update.
Eureka Group Holdings Limited’s Board of Directors has advised shareholders to reject Aspen Group Limited’s increased takeover offer, stating that the new offer still undervalues the company based on independent expert valuations and the latest market prices. Major shareholder Filetron and Eureka Directors holding 21.98% of the company have also indicated they will not accept the offer, making Aspen unlikely to reach the compulsory acquisition threshold. The Eureka Board continues to prioritize shareholder interests and opposes the takeover bid.
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