Specialist industry play, Matrix Composites (MCE AU), announced an NBIO with Advanced Innergy (AIH AU) on the 30th Match. It has now entered into a Scheme.
AIH is offering A$0.40/share, in cash, a 66.7% premium to undisturbed and a seven-year high. Terms have been declared final.
Apart from independent shareholders signing off, this transaction requires FIRB approval. The transaction should complete mid/late July.
Matrix is illiquid - look away now if this is not your bag.
The Trade:
Clean deal.
If small, illiquid arbs are your bag, I’d pay up to A$0.39/share. A$0.38/share would be preferable.