Johns Lyng enters trading halt amid reports of potential private equity buyout
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The news: Building services provider Johns Lyng has entered a trading halt after a media report said the company has received a takeover offer from private markets investor Pacific Equity Partners (PEP).
The numbers: Johns Lyng's share price has retreated 57% over the last 12 months, falling to $2.54 at Friday's close.
The context: The company said in an ASX statement it had requested the trading halt following "media speculation regarding a potential change of control transaction".
The Financial Review reported on Tuesday morning that PEP had recently secured exclusive due diligence, with no certainty a deal will be agreed.
Johns Lyng said the trading halt will last until the earlier of a further announcement on the potential transaction or the start of trading on Thursday.
