Vital will not be part of Simon Herbert's Empire building, partial takeover won't proceed

Empire Capital wants to grow its datacentre business. (Image: Depositphotos)

Mon, 16 Sep 2024

Investor Simon Herbert’s Empire Capital will not go ahead with a signalled partial takeover of Vital.On Monday morning Herbert said the 37.5 cents per share partial takeover would not proceed because Vital did not let Empire undertake due diligence and because of its disappointing financial performance reported in Vital’s annual report. Empire gave notice of a proposed partial takeover offer for Vital on Aug 14.Vital said the proposed price was "well below" a level at which Vital would be prepared to grant access to u...

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