Equity Trustees has confirmed to the Australian Securities Exchange (ASX) that it has made a confidential, incomplete, non-binding and indicative proposal to superannuation administration and investment company, Diversa Group.
Reacting to media speculation, both Equity Trustees and Diversa Group confirmed the that documentation had been received by Diversa on 14 April, but Equity Trustees stressed that there had been no significant developments and no contractual arrangements had been entered into.
The Diversa announcement to the ASX said that it had received the offer from Equity Trustes regarding a possible acquisition of all the shares in Diversa at a price of 53 cents per share in cash by way of a scheme of arrangement.
However it noted that no agreement to proceed had been reached and that no arrangements had been entered into.
