MMA Offshore (MRM AU): Cyan Lifts Offer

Jun 20, 2024

∙ Paid

Back on 25 March, marine and subsea services provider MMA Offshore (MRM AU) entered into a Scheme with Singapore's Cyan Renewables, a wholly-owned vehicle of Seraya Partners.
The A$2.60/share Offer in cash, a 11% premium to last close, was within the IE's fair value range of A$2.03 to A$2.83. However, shares have consistently traded through terms.
Cyna has now bumped the Offer to A$2.70/share - best & final. Thorney (7.95% of shares out) is supportive. The Scheme Meeting will still be held on the 1 July.

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