Being AI proposes takeover of Solutions Dynamics

Solutions Dynamics (SDL) has announced that it has received a non-binding indicative offer from a subsidiary of Being AI.

The offer, which was received on September 8, involves either a partial or full takeover of SDL by Being AI.

It also includes options for SDL shareholders to either receive a combination of cash and Being AI shares or all Being AI shares.

However, the SDL board has declined Being AI's request for access to confidential due diligence information, citing the lack of sufficient detail in the proposal.

The board also noted that any proposal for a partial takeover offer would face challenges, as it would not provide all shareholders with the opportunity to exit their holdings.

SDL said it is committed to acting in the best interests of all shareholders and will consider any further approach or formal takeover offer in accordance with its obligations.