ERoad says $50m raise unrelated to hostile bid

ERoad CEO Mark Heine says a new capital raise and hostile takeover are unrelated. (Image: NZME)

Fri, 08 Sep 2023

ERoad chief executive Mark Heine says the company’s $50 million capital raise is not intended as a spoiler move to dilute the influence of its 18.8% hostile takeover bidder, Toronto stock exchange-listed Constellation Software.“It's really important to recognise that the two events are entirely unrelated,” Heine told BusinessDesk for an upcoming edition of the Sharesies Shared Lunch podcast.The Auckland-based telematics company, which is seeking scale in the North American trucking market, had been considering its cap...

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