Engenco Responds to Elph Investments’ Takeover Bid
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Engenco Limited has issued a Target’s Statement in response to Elph Investments’ takeover bid for all issued shares. The Recommending Directors advise shareholders to accept the offer for a premium if they plan to sell soon, but to reject it if they seek long-term value. An Independent Expert’s Report finds the offer reasonable but not fair, valuing shares slightly higher than the offer price. Engenco's current market cap is A$90.06M.
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