Energy One rejects Volue AS takeover bid
· Energy One (ASX:EOL) unanimously rejected a revised, non-binding all-cash acquisition proposal from Volue AS valuing the company at $17 per share.
· The unsolicited bid represents a premium of approximately 57% over the company's previous closing share price.
· The board stated the proposal is opportunistic and undervalued the business, while the company continues evaluating organic growth and acquisition opportunities.
Software provider Energy One (ASX:EOL) unanimously rejected an unsolicited all-cash acquisition proposal from Volue AS valued at $17 per share.
The revised proposal followed an earlier non-binding offer of $16.50 per share submitted by Volue AS on July 6.
"The revised indicative proposal is opportunistic," stated the Energy One Board regarding the takeover bid.
The board noted execution risks, including due diligence, Foreign Investment Review Board approval, and potential antitrust clearances.
Following the announcement, the Energy One share price was unchanged at $10.85.
Energy One continues delivering strong top-line and earnings growth while scaling operations across Australia and Europe.
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