Suitors circle SAI Global but no final offers yet

Company News

SAI Global Limited (ASX:SAI) has revealed it is in the sights of more suitors but is yet to receive any final all-of-company offers.  
 
The standards and risk management group advises Pacific Equity Partners and KKR Asia Limited have not submitted a final offer, despite extensive due diligence. 
 
The consortium launched a $1.1 billion unsolicited, conditional takeover bid for the company at the end of May but has now expressed uncertainty about some valuations.
 
As a result SAI Global’s board has determined it is not in shareholders’ interests to proceed further with the consortium.  
 
The company says it has received proposals from a number of interested parties to acquire one or more of its underlying businesses. 
 
SAI Global plans to progress these proposals through more talks but has cautioned there is no guarantee a deal will be done. 
 
SAI Global reported a net profit of $35.5 million in the full 2014 financial year.

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