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Calisen agrees terms on £1.43 billion takeover offer
StockMarketWire.com
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Calisen surged on Friday after the company agreed terms on a £1.43 million, or 261 pence a share, go-private takeover offer from Coyote Bidco, a consortium of investors.
The 261 pence a share offer, representing a 26.3% premium to Calisen's closing price of 207 pence per share on 10 December 2020.
The deal would be implemented by way of a court‑sanctioned scheme of arrangement and would require court approval and the backing from Calisen shareholders and regulators in China, the European Union, Turkey and Ukraine, as well as foreign investment regime in Australia.
Calisen meetings with shareholders are expected to be held soon after the scheme documents are posted in January and the takeover was currently expected to be completed in April 2021.
'We believe that the consortium has considerable experience investing in and supporting similar infrastructure businesses and we are pleased that they intend to support Calisen's strategy and growth ambitions as it continues to deliver on its purpose of accelerating the development of a cleaner, more efficient and sustainable energy segment,' CAlisen said.
At 8:43am: (LON:CLSN) Calisen PLC share price was 0p at 178.3p
Story provided by StockMarketWire.com
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