IkeGPS ends takeover talks as bid lacks shareholder support

The company said the bid had “no realistic chance to secure sufficient support from shareholders”. (Image: IkeGPS)

Fri, 07 Feb 2025

IkeGPS has ended discussion with a potential acquirer after an offer failed to meet shareholder expectations.The unsolicited offer came from a “large, credible private equity group”, according to a statement the dual-listed company released to the New Zealand Exchange (NZX) and Australian Securities Exchange (ASX) today.IkeGPS sells utility pole assessment products to utilities companies globally.After a short period of due diligence, the potential acquirer offered $1.00 per share, a 62% premium on the company’s share price on...

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