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OFX surges over 70% after A$247 million takeover proposal from Equals Group
💼 OFX Group has signed a Transaction Process Deed with Equals Group, paving the way for an all-cash takeover offer of A$1.00 per share.
📈 The proposal values OFX’s equity at approximately A$247 million and represents a 108% premium to its price before the Strategic Review was announced. OFX shares jumped around 71.5% as the market priced in stronger deal prospects.
🤝 Equals has four weeks of exclusivity to complete due diligence, secure financing and move toward a formal implementation agreement. OFX’s board intends to unanimously recommend the transaction if the required conditions are met.
🎯 Many investors may expect OFX to trade within the A$0.80–A$0.95 range in the near term and move closer to the A$1.00 offer price if a binding agreement is signed.
#OFX $XRP $HYPER $ASX.US
💼 OFX Group has signed a Transaction Process Deed with Equals Group, paving the way for an all-cash takeover offer of A$1.00 per share.
📈 The proposal values OFX’s equity at approximately A$247 million and represents a 108% premium to its price before the Strategic Review was announced. OFX shares jumped around 71.5% as the market priced in stronger deal prospects.
🤝 Equals has four weeks of exclusivity to complete due diligence, secure financing and move toward a formal implementation agreement. OFX’s board intends to unanimously recommend the transaction if the required conditions are met.
🎯 Many investors may expect OFX to trade within the A$0.80–A$0.95 range in the near term and move closer to the A$1.00 offer price if a binding agreement is signed.
#OFX $XRP $HYPER $ASX.US
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