Sealink rejects takeover bid

Company News

by Anna Napoli

Last Movement
$4.100 -$0.232 -5.36%
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Last Updated: 28/02/2020 3:59 PM

Sealink Travel Group (ASX:SLK) has responded to reports of a potential takeover approach, announcing they have rejected the offer.

The company has confirmed that its received an unsolicited, non-binding offer for 100 per cent of the shares in Sealink at a price of $4.75 per share.

The Board said the proposal undervalues Sealink and they would not recommend it to shareholders.

The proposal has since been withdrawn.

Shares in Sealink (ASX:SLK) are up 11.3 per cent to $4.24

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.