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Matrix Composites & Engineering Ltd ( (AU:MCE) ) has shared an update.
Matrix Composites & Engineering Ltd has rejected a non-binding indicative merger proposal from Advanced Innergy Solutions Pty Ltd, which would have resulted in Matrix shareholders holding 20% of the merged entity. The Board decided against the proposal, citing concerns over valuation fairness, the high conditionality of the proposal, and Matrix’s strong standalone growth prospects. The company believes it is trading below its fundamental value and remains focused on its business strategy and opportunities in the Subsea market, while being open to future opportunities that align with its strategic objectives.
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 specialises in the design, engineering, and manufacture of composite and advanced material technology solutions for industries such as oil and gas, civil infrastructure, resources, defence, and transportation. With over 20 years of experience, Matrix is recognized as an industry leader and a major exporter of Australian goods and services, providing turnkey solutions with localised support from its offices in Australia and the United States.
Average Trading Volume: 168,565
Technical Sentiment Signal: Hold
Current Market Cap: A$53.71M
See more data about MCE stock on TipRanks’ Stock Analysis page.