IQGeo Group PLC (GB:IQG) has released an update.
IQGeo Group PLC has been targeted for a recommended cash acquisition by Geologist Bidco Limited, a company backed by private equity firm KKR, as detailed in the May 14th announcement. Charles Stanley & Co Ltd had initially shown support for the acquisition, with a non-binding intent to vote in favor, but has since sold a significant portion of its shares, reducing its support to approximately 7.56% of IQGeo’s issued share capital. The acquisition, which has garnered approximately 55.84% support from shareholders, is proceeding through a Court-sanctioned scheme of arrangement.
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