28th Sep 2018 17:20
LONDON (Alliance News) - DBAY Advisors Ltd said on Friday it has switched to a takeover offer concerning its GBP98.7 million bid for technology recruitment and outsourcing firm Harvey Nash Group PLC.
DBAY will now look to acquire all shares in Harvey Nash it does not currently own, leading to the postponement of the court and general meeting due to be held on Tuesday next week.
DBAY in August said it was looking to acquire Harvey Nash at a price of 130 pence in cash per share and an interim dividend of 1.75p per share.
DBAY will publish an offer document and post it in due course, with the first closing date being 21 days from when the document is published.
Shares in Harvey Nash closed up 0.45 at 130.00 pence on Friday.