Bravura confirms takeover bids
Bravura Solutions has confirmed it has received several indicative takeover bids since it appointed Macquarie Capital Advisers (MCA) to help assess unsolicited proposals last year.
Bravura has described the bids received as “preliminary and highly conditional” bids to wholly acquire the issued capital of the company by way of a scheme arrangement.
These bids follow on from unsolicited bids late last year that led to Bravura appointing MCA in December to assess the takeover proposals.
In a statement to the stock exchange, Bravura said of the current bids: “Each of the bids are indicative, non-binding, incomplete and subject to due diligence and a number of other conditions.
“There is no certainty that any of the indicative bids will result in a binding offer or proposal capable of implementation or of being put to shareholders at any particular price,” the company stated.
Bravura said it would not make any further comment on the issue until a binding proposal was received.
Recommended for you
Two commentators have shared why cultural alignment can be the biggest deal breaker when it comes to advice M&A and how to ensure a successful fit.
Formal education has played a large role in enhancing the advice profession over the last decade but, with the bar now so high, two advisers debate whether it is necessary to complete additional study.
With an abundance of private market options coming to market, due diligence becomes increasingly important as advisers separate the wheat from the chaff, adviser Charlie Viola has said.
The Treasury has launched a consultation into how the $47 million special levy for the Compensation Scheme of Last Resort will be funded.
