Swoop Holdings Limited (AU:SWP) has released an update.
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Swoop Holdings Limited’s attempt to acquire Vonex through an off-market takeover remains uncertain, with its equity offer slightly improved due to a decline in Swoop’s VWAP but still lacking a cash component. Meanwhile, the Vonex Board recommends shareholders accept MaxoTel’s unconditional cash offer of 4.4 cents, which expires today, as they await a Scheme of Arrangement meeting in February 2025 for a slightly lower offer. Investors should note the Vonex Board’s advice to take no action on Swoop’s current offer due to its conditional nature and lack of cash alternatives.
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