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Matrix Composites & Engineering Ltd ( (AU:MCE) ) has shared an update.
Matrix Composites & Engineering Ltd has received a confidential, highly conditional, and non-binding indicative proposal from Advanced Innergy Solutions Limited for a potential reverse merger. The proposal, which involves Matrix acquiring AIS through the issuance of shares, is still preliminary and incomplete, with no cash consideration for Matrix shareholders, and the Board advises shareholders to take no action as there is no certainty of any agreement being reached.
The most recent analyst rating on (AU:MCE) stock is a Buy with a A$0.44 price target. To see the full list of analyst forecasts on Matrix Composites & Engineering Ltd stock, see the AU:MCE Stock Forecast page.
More about Matrix Composites & Engineering Ltd
Matrix Composites & Engineering Ltd specializes in the design, engineering, and manufacture of composite and advanced material technology solutions for industries including oil and gas, civil and infrastructure, resources, defense, and transportation. With over 20 years of experience, Matrix is recognized as an industry leader and a major exporter of Australian goods and services, offering turnkey solutions with global customer support.
YTD Price Performance: -8.33%
Average Trading Volume: 138,276
Technical Sentiment Signal: Sell
Current Market Cap: A$49.24M
See more data about MCE stock on TipRanks’ Stock Analysis page.