In today’s briefing:
- Genex Power (GNX AU): Scheme Vote on 16 July as Skip Remains Silent
Genex Power (GNX AU): Scheme Vote on 16 July as Skip Remains Silent
- The Genex Power Ltd (GNX AU) IE considers Electric Power Development C (9513 JP)’s scheme (A$0.275) and off-market takeover offer (A$0.270) fair and reasonable.
- The offer is conditional on FIRB and shareholder approval. Skip Capital, which can block the scheme, has not declared its intention regarding J-Power’s offer or launched a competing offer.
- Skip’s silence suggests a greater probability of accepting the scheme offer. If the scheme fails, the takeover offer, due to its structure and price, caps the downside.
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