Insight bid for Diligent above adviser's US$4.80 fair value midpoint

Sun, 06 Mar 2016

By Paul McBeth March 7 (BusinessDesk) - Insight Venture Capital's US$624 million takeover bid for Diligent Corp represents fair value for the software developer's shareholders, according to the independent adviser's valuation. Diligent shareholders will vote on the deal next month, which has the backing of the company's board and a clean bill of health in Simmons Corporate Finance's independent report valuing the transaction. Insight has offered US$4.90 a share via a merger, which requires a simple majority of shareholder support, at lea...

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