Veda to recommend Equifax’s revised proposal

Company News

Veda Group Limited (ASX:VED) has announced it has received a revised proposal from Equifax to acquire all the shares in Veda at a price of $2.825 cash per share by way of scheme of arrangement.
 
The company says the cash payment of $2.825 per share is a 42 per cent premium to the closing price of Veda shares on 17th September 2015.
 
The Veda board says the revised offer reflects Veda’s outstanding market position and represents a strong financial outcome for shareholders.
 
However the board notes there is no certainty that the revised proposal will result in a binding offer for Veda shares. 
 
Veda Group reported a net profit of $78.42 million at 30 June.