IkeGPS ends takeover talks as bid lacks shareholder support

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)
Ben Moore
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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