Bravura beefs up GBST takeover by 8% to $2.72p/s ($184.7m)

Company News

by Jessica Amir

Bravura (ASX:BVS) has bumped up its takeover for fellow financial services tech company GBST (ASX:GBT) to $2.72 per share.

Bravura’s new offer values GBST’s takeover at $184.1 million. That’s a rise of over 8 per cent from its 12 April 2019 offer of $2.50 per GBST share ($169.8 million).

Bravura’s offer is now also cash, as opposed to its cash and scrip alternative in the prior proposal.

A part from that, Bravura’s takeover offer remains on the same terms, it’s non-binding and indicative.

Shares in Bravura (ASX:BVS) closed 1.93 per cent higher at $5.27 yesterday. GBST (ASX:GBT) shares closed 3.6 per cent higher at $2.57.

Jessica Amir

Finance News Network
Jessica joined FNN in January 2017 after having worked in financial advising for seven years and in TV journalism for seven years, specialising in finance, equities and analysis. She has interviewed former Prime Ministers of Australia, Tony Abbott, Julia Gillard and Kevin Rudd and ex Treasurer Jo Hockey. Jessica has worked as a journalist with Sky News Business, ABC 1, ABC's The Business, ABC24 and has also been a regional Channel 7 and 9 TV reporter with Prime7 and Win News.