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The proposal has since been withdrawn.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