Veda board recommends sale to Equifax
Veda Group Limited has entered into a binding agreement which substantially clears the way for its acquisition by big US firm Equifax.
The Veda board announced to the Australian Securities Exchange today that that it had unanimously recommended acceptance of the acquisition offer made by Equifax in October, stating that the the offer price of $2.825 per share is a higher price than the company has traded at since it listed in December, 2013.
Commenting on the transaction, Veda chairman, Dr Helen Nugent said the board had concluded the sale of the company at a significant premium to market was an attractive outcome for shareholders.
Veda has carved out a strong market position servicing the Australian financial services industry with an increasing presence in providing data analytics to the superannuation sector.
Recommended for you
Apostle Funds Management has appointed the newly created position of director, head of wholesale as the firm expands its Australian footprint in the wholesale sector.
Recruitment manager Robert Half has shared the most in-demand roles in financial services that firms are finding difficult to fill, driven by ASIC’s growing focus on risk and compliance.
ASIC chief executive, Warren Day, is among senior executives to depart the corporate regulator amid changes to its leadership team.
Iress has completed the sale of its platform business, bringing $4.1 billion in funds under administration over to Praemium.
