Energy One (EOL AU): Volue (Reportedly) Makes An Offer

Jul 30, 2026

∙ Paid

Back on the 28th August 2023, software provider Energy One Ltd (EOL AU) fielded an indicative Offer from STG at A$5.85/share; reduced to A$5.15/share after DD. EOL said no.
That rejection was prescient as the share price nudged A$20/share two years later; but has since halved, and trades around A$10.85/share as I type.
Shares are in a trading halt. The AFR is reporting Norwegian-based Volue has pitched an indicative A$17/share Offer by way of a Scheme. That’s a 57% premium to undisturbed.

Energy One is illiquid - look away now if that is not your bag.

Shares are suspended so there is nothing to do right now.
STG had a good hard look three years, and that deal came to nought.
If an NBIO is tabled, and illiquid arbs are your bag, don’t aggressively chase it.

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