HUB24 Limited
(ASX:HUB) has received a proposal for a 100 percent takeover of HUB24’s shares.
The financial services company announced that it has received an indicative, non-binding and conditional proposal from an unrelated party, not disclosed in the announcement.
Under the agreement, 100 percent of HUB24’s shares would be purchased for cash consideration of $2.75 per HUB24 share.
The company advises it is currently evaluating the proposal, which is subject to the completion of due diligence. HUB24 also noted that there is no certainty the proposal will result in any definitive transaction.
HUB24 recorded a net loss of $6.45 million for FY15.
