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...

More Markets

NZ sharemarket has big day: up 1.23%
Markets Market Close

NZ sharemarket has big day: up 1.23%

Big boys go bullish ... for now.

Graham Skellern 26 Mar 2025
Grenon seeks to end ‘futile’ NZME board stoush
Finance

Grenon seeks to end ‘futile’ NZME board stoush

It's time for the current board to fold 'em, says coup orchestrator. 

Pattrick Smellie 26 Mar 2025
Kathmandu recovery bright spot
Retail

Kathmandu recovery bright spot

KMD Brands declared earnings above previously stated guidance.

Gregor Thompson 26 Mar 2025
Jim Grenon's NZME board takes shape
Markets

Jim Grenon's NZME board takes shape

Investor's concessions to media firm could only extend to bringing CEO onto its board.