Whispir shares down as Pendula buyout talks continue

The news: Shares in cloud-based communications platform Whispir have slipped on Monday, as it confirmed that talks are continuing for a prospective takeover by Pendula. Whispir's price is still trading at a premium to its level in early December, when Soprano made a since rejected offer to buy the firm.

The numbers: Whispir shares were trading 0.9% lower at $0.515 shortly after midday AEDT on Monday. Whispir said last week it expects Pendula's offer to be sweeter than Soprano's bid of $0.48 per share, which was rejected by the board.

The context: The talks are exploring options for Pendula to either buy out Whispir's shares, or to buy Whispir's main operations. Whispir's board said it would keep shareholders updated as the deal develops.