SAI Global Limited
(ASX:SAI) has announced it has entered into a binding Scheme Implementation Deed with Casmar Holdings, a wholly owned subsidiary of Baring Asia Private Equity.
The takeover bid by Baring will see SAI shareholders offered $4.75 per share, a 32.3 percent premium on Friday’s closing price of $3.59.
Baring’s bid represents an implied enterprise value just north of $1B.
SAI Directors have unanimously recommended SAI shareholders vote in favour of the deal.
SAI Global Limited reported a net profit of $53.2 million at 30 June 2016.
