ClearView rejects unsolicited takeover
The board of Clearview has recommended shareholders reject an unsolicited takeover offer from CCP BidCo Pty Ltd.
The board recommended shareholders not respond and take no action to the offer because it believed the timing of the offer to be highly opportunistic, as well as being inadequate and undervaluing company shares.
ClearView also said KPMG had deemed the offer not fair and reasonable, as well as being highly conditional and uncertain.
The offer is for $0.50 per share and is subject to a minimum acceptance condition, as well as other conditions including the S&P/ASX 200 Index not closing below 3,750 for three or more consecutive trading days, ClearView stated.
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