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StatPro Investors Overwhelmingly Vote For Confluence Takeover Offer

Tue, 22nd Oct 2019 11:13

(Alliance News) - Portfolio analytics firm StatPro Group PLC investors overwhelmingly approved the GBP160 million cash takeover offer from Confluence Technologies Inc in a vote on Monday.

In late September, Confluence Technologies - controlled by US private equity firm TA Associates - offered 230 pence per share in cash for StatPro.

Shares in StatPro were untraded at 226.00 pence in London on Tuesday.

On Monday, StatPro reported over 99.9% of votes cast on the deal were in favour of the acquisition terms. Consequently, StatPro will be suspended from trading next Tuesday ahead of being cancelled next Wednesday.

By Ahren Lester; ahrenlester@alliancenews.com

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