Iress shares surge on fresh acquisition interest
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More news: Iress was the top performer across the ASX 200 in morning trade after confirming that it is speaking to multiple new suitors over a potential takeover.
Iress shares were up 5% to $8.82 at 11:05am AEDT, having dropped around 10% over the last 12 months.
Iress opens virtual data room to multiple new suitors
The news: Financial software provider Iress has said it is engaging with multiple new potential suitors, in addition to US investing giants Blackstone and Thoma Bravo whose acquisition interest was confirmed in August.
The context: Iress said it has made a virtual data room available to "a number of additional parties" under appropriate confidentiality agreements. Bidders are restricted from contacting certain former management without Iress' consent, the company noted.
"There can be no certainty that any proposal or offer will be forthcoming from any party, or that any offer, if received, will lead to a binding transaction," Iress said in an ASX release this morning.
Blackstone, the world's largest alternative asset manager, previously tabled a bid of $10.50 in cash per share before scrapping the offer. Iress shares last traded at $8.40.
The source: ASX
