Pact Group Holdings Ltd. (AU:PGH) has released an update.
Bennamon Industries Pty Ltd has made a final off-market takeover bid for Pact Group Holdings Ltd at $0.84 per share, with the offer set to close on 7 June 2024, without further extensions. The bid comes as Pact’s share price sits at $0.675, with predictions of a price fall post-offer closure and a noted 90% drop in average daily trading volume since the offer. Shareholders are urged to consider Bennamon’s position as the controlling stakeholder with over 87.6% ownership and to review their investment objectives in light of Bennamon’s intentions.
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