ERoad receives formal takeover bid

ERoad shares were already tanking when CEO Steve Newman left without explanation in April 2022. (Image: ERoad)

Thu, 22 Jun 2023

Eroad directors have disclosed receipt of a full takeover offer at $1.30 a share emanating ultimately from Toronto Stock Exchange-listed Constellation Software through an Australian subsidiary of the Volaris Group.“The board will act in what it considers to be the best interests of the company and its shareholders, including assessing the merits of this NBIO (non-binding indicative offer) from Volaris,” a statement from the ERoad board to the NZX said.That assessment would, in particular, be “relative to the work underway on r...

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