Envirosuite (ASX:EVS) has received an unsolicited, non-binding proposal from UK-based software provider Ideagen to acquire all its shares for AU$0.10 each, according to a Tuesday filing with the Australian bourse.
The offer represents a 133% premium to Envirosuite's recent closing price and the proposal is subject to due diligence, shareholder approval, and other conditions, with Envirosuite's board deciding to engage further with Ideagen.
The company advised its shareholders not to take any action at this stage, noting that there is no certainty the proposal will lead to a binding offer.
Shares of the company surged 88% at market close.
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