Perform's directors said that they do not plan to accept the final cash offer from Access in regards to their own 10.88% stake.
The board said it will write to shareholders with its detailed views on the offer after a formal offer document has been issued by Access. In the meantime it has strongly urged shareholders to take no action.
Perform said it is being advised by Rothschild in regards to the offer.
Access said Monday that its
Shares in Perform were trading up 0.04% at
Access said the bid was final and would not be increased. The deal values the remaining stake in Perform that Access is buying at
Last Friday, Perform said it was on track for its revenue and adjusted earnings expectations for the full-year as it stressed that its cost reduction plan is on track, with benefits to come through in the second half. It saw a widened loss in the half-year to end-June on higher costs, including costs relating to its acquisition of
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