Whispir shares jump as suitors sweeten takeover bids

The news: The takeover battle for cloud-based communications platform Whispir is heating up with bidders Soprano Design and Pendula lifting their offers, and the target's share price.

The numbers: Whispir shares leapt 4.9% to $0.535 in early trading after a target's statement revealed Pendula had increased its non-binding indicative offer from 57 cents to 60 cents per share. Soprano has increased its offer from $0.48 per share to $0.52 per share today, or $0.55 per Whispir share if it secures enough acceptances to give it 27.5% or more aggregate interest in Whispir by Friday. Soprano's revised offer has been extended to close at 7:00pm AEDT on 28 December 2023.

The context: Whispir's board has continued to urge shareholders to reject the Soprano bid, and is in ongoing talks with Pendula towards a binding offer that could be recommended to shareholders.