The market is excited with the news that Bosch Group has made a $495 million bid for Australian auto parts manufacturer Pacifica Group Limited (PBB). Bosch intends to make an off-market takeover offer for Pacifica.
The offer includes the assumption of Pacifica’s existing net debt. The Bosch cash offer represents an outstanding opportunity for Pacifica shareholders to immediately realise a significant premium to the recent trading value of Pacifica shares.
Stockbroking analysts haven't found the offer from Bosch surprising.
Bosch stated that the volume weighted average price includes the recent surge in the share price fuelled by speculation of a potential takeover of Pacifica.
Dr Bernd Bohr, a member of the Bosch Board of Management and chairman of the Automotive Group, said the offer represents full and fair value for Pacifica.
Wednesday, October 18, 2006
The Bosch Group bids for Pacifica
0 comments:
Post a Comment