Tungsten Corp PLC - London-based electronic invoicing company - Notes that bidder Kofax Inc has agreed to be taken over by Clearlake Capital and TA Associates. The takeover is agreed upon without the approval of Tungsten's board.
In late March, Irvine, California-based Kofax, which first approached Tungsten in December with an offer of 40 pence per share, said it had agreed a 42p offer with Tungsten's board.
Current stock price: 46.00 pence
12-month change: up 45%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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