The PAS Group Limited
(ASX:PGR) has received an acquisition bid for all shares from Australia Brands Investment LLC.
ABI has made an unconditional on-market cash offer of all shares in the apparel business for $0.63 cash per share, for those shares not already owned by ABI and its associates.
ABI’s aggregate associates presently hold a relevant interest in PAS shares representing approximately 19.23 percent of the current issued share capital of PAS.
Canaccord Genuity will buy PAS shares on-market on behalf of ABI until close of trade on 9 November 2015, unless the offer is withdrawn or extended.
The PAS Group reported net loss of $31.9 million for the full year ended 30 June 2015.
