ERoad bid is a 'knock-out offer', says Aussie broker

ERoad bought Selwyn Pellett's Coretex business in 2021 for $177 million. (Image: NZ Hi-Tec Awards)

Fri, 23 Jun 2023

Toronto-listed Constellation Software’s bid for ERoad is a “knock-out offer” that is likely to succeed, Australian broking house Bell Potter reckons.In a note to clients this morning, analyst Chris Savage says that, at $1.30 a share, the takeover bid is “opportunistic” but gets the “knock-out” rating because it’s come in at a 69% premium to the 64 cents closing price that applied before the bid was lodged on Thursday.ERoad sells truck fleet tracking and management software and is seeking to expand...

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