RE: Notice15 Oct 2019 16:03
Interesting how the news is reported
(Sharecast News) - Shares of software technology company Brady surged on Tuesday after it agreed to be bought by Hanover Bidco, an investment vehicle owned by Hanover Active Equity Fund II, in an £8.3m deal.
Under the terms of the transaction, announced late on Monday, Brady shareholders will be entitled to receive 10p per share in cash, which is a premium of about 51% to the stock's closing price on Friday.
Brady's non-executive chairman, Ian Jenks, said: "The recent period has been a challenging time for the company, and the board's priority has been to secure an outcome for shareholders, customers and employees that preserves value and provides a platform from which the business can flourish.
"I believe the offer from Hanover provides certainty for all stakeholders along with the expertise and resources to best enable Brady to unlock its potential."