PA Media Group unit to acquire RAS Technology
- RAS Technology signed a binding scheme implementation deed for The Press Association to acquire 100% of its shares.
- Shareholders will receive $1.04 cash per share, representing a 93% premium over the previous closing price.
- The acquisition aims to combine complementary global reach and data capabilities across key wagering markets.
RAS Technology (ASX:RTH) has agreed to a binding takeover proposal under which the UK-based The Press Association, a subsidiary of PA Media Group, will acquire 100% of its issued shares.
The agreed cash offer of $1.04 per share represents a 93% premium to RAS’s closing share price of $0.54 on Oct. 16 and an 80% premium to the 90 trading-day volume-weighted average price for RAS shares of $0.576.
The board stated that the two businesses' complementary strengths and global reach will offer customers a wider range of data, deep wagering knowledge, and coverage across more operating markets.
The board of directors unanimously recommended that shareholders vote in favour of the scheme, provided no superior proposal emerges and an independent expert finds the offer beneficial.
The acquisition remains subject to shareholder and court approvals, with target implementation scheduled for February 2027.
Following the announcement, the RAS Technology Holdings share price was up at $1.00.
The target business operates as Racing and Sports, delivering wagering technology, media, and data solutions to global clients.
