- WAM Active (WAA) has opened an offer for shares in Keybridge Capital (KBC) as part of an off-market takeover bid
- After announcing the bid last month, WAM has today opened its offer to acquire all Keybridge Capital shares at a price of 6.5 cents per share
- WAM withdrew more valuable takeover bids in June and October last year after Keybridge triggered defeating conditions
- Shares in WAM Active closed 1.37 per cent lower today, worth $1.08 each at market close
- Keybridge securities last traded for 7.1 cents apiece in July 2019
WAM Active (WAA) has opened an offer for shares in Keybridge Capital (KBC) as part of an off-market takeover bid.
After announcing the bid on December 13, 2019, WAM today opened its offer to acquire all Keybridge Capital shares for 6.5 cents each.
The offer is scheduled to close on February 3, 2020 unless extended or withdrawn.
It is however, conditional on WAM acquiring an interest in at least 50.1 per cent of the issued capital of Keybridge Capital.
This is not the first attempt by WAM to acquire a majority interest in Keybridge Capital. On June 28, 2019 WAM offered 7.5 cents per share.
Later on October 15, 2019 WAM launched another takeover bid but offered 6.9 cents per share.
However, both of these offers were withdrawn by WAM after Keybridge triggered defeating conditions.
Shares in WAM Active closed 1.37 per cent lower today, worth $1.08 each at market close.
Keybridge Capital securities last traded for 7.1 cents apiece in July 2019.