Proactis Holdings PLC - Wetherby, England-based software company - Says shareholders approve takeover by Cafe Bidco Ltd. The acquisition remains subject to sanction by the court. The date of the court hearing is expected to be Friday. It is intended that dealings in Proactis shares will be suspended on Tuesday next week.
Pollen Street Capital Ltd and Dbay Advisors Ltd on June 11 announced a joint bid to take Proactis Holdings private, after Dbay threatened to block Pollen Street's original offer. The buyers will pay 75 pence per share for Proactis, valuing the company at GBP74.9 million. The price is equal to Pollen Street's original offer announced on April 30, when it was the only bidder, and represents a premium of 79% over Proactis's closing price on April 29.
Current stock price: 73.50p
Year-to-date change: up 58%
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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