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Made.com receives multiple non-binding indicative proposals
(Sharecast News) - E-commerce company Made.com said on Monday that it has received a number of non-binding indicative proposals, including possible offers for the issued and to be issued share capital of the company.
Made.com stated that after having reviewed said proposals, it has invited "a select number of parties" to progress towards firm offers by the end of October, following a due diligence process.
Based on the working capital requirements of the group, Made.com highlighted that any firm offer would require interim financing to be put in place at the time of any firm offers being expected.
"Current discussions may be altered or terminated at any time and, accordingly, there can be no certainty that an offer will be made, nor as to what the terms of any offer may be," said Made.com
As of 0825 BST, Made.com shares had surged 24.34% to 8.83p.
Reporting by Iain Gilbert at Sharecast.com
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CORRECT: LONDON MARKET PRE-OPEN: Informa backs outlook; Made lowers
(Correcting that Made.com first-half sales were 19% lower year-on-year, but up 55% from pre-Covid-19 levels, and not Wise's.)
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