Genex Power Ltd. (AU:GNX) has released an update.
Genex Power Limited has announced a significant transaction with J-POWER, offering a scheme to acquire all Genex shares at A$0.275 each, presenting a substantial premium over historical trading prices. The deal, valued at an enterprise level of around A$1 billion, has the unanimous support of the Genex Independent Board Committee, conditional on the absence of a superior proposal and favorable independent expert review. It is expected to be financed through J-POWER’s cash reserves and debt facilities, with no financing conditions attached.
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