Range International Rejects Acquisition Proposal from Thermal

An update from Range International Limited ( (AU:RAN) ) is now available.

Range International Limited has rejected an updated non-binding offer from Thermal Installations Pty Ltd and Vitelergy Limited, which suggested Range acquire a 100% interest in Thermal for A$5.875 million. The board deemed the proposed transaction lacking in clear synergies or shareholder benefits, with potential risks and capital requirements being significant deterrents. The rejection raises uncertainty about future proposals from Thermal or other third parties. Range remains committed to enhancing shareholder value through its ongoing operations.

More about Range International Limited

Range International Limited is a manufacturer specializing in producing ‘zero-waste’ plastic pallets using their proprietary ThermoFusion™ technology. The company operates production lines in East Java, Indonesia, and markets its Re>Pal™ branded pallets across the Asia Pacific region.

YTD Price Performance: 0%

Average Trading Volume: 983,898

Technical Sentiment Consensus Rating: Buy

Current Market Cap: A$4.7M

For detailed information about RAN stock, go to TipRanks’ Stock Analysis page.