Redflex in negotiations with Macquarie

Company News

Traffic light group Redflex Holdings Ltd (ASX:RDF) says it has received a number of confidential, conditional and incomplete acquisition proposals, including one from Macquarie Group Ltd (ASX:MQG).

The company says it will make an announcement early next year in regards to its discussion with several parties.

Redflex says it is uncertain whether the negotiations will result in any formal proposal being made to its shareholders, but added that due diligence had been completed.

For the year ended 30 June 2010, Redflex reported a net profit of $715,000.