3rd Jun 2016 10:55
LONDON (Alliance News) - Recruitment software company Bond International Software PLC on Friday said it was considering the GBP44.2 million cash offer proposed by Constellation Software Inc earlier in the day.
Bond International said it recommends that shareholders take no action at present and await another announcement.
The offer, which Constellation had said it was considering making on Friday morning, would be at 105 pence per share, with 42.1 million Bond shares currently in issue.
Shares in Bond International were up 16% at 101.90p on Friday, compared to the 87.50p at which the company had last traded on Wednesday. As such, its market capitalisation increased to GBP42.9 million, having previously been GBP36.9 million before the market opened on Friday.
Canadian-listed software provider Constellation, its subsidiary Trapeze ITS Luxembourg SARL, and its President and Chairman Mark Leonard together hold a 29.6% stake in Bond International.
Constellation said a further announcement will be made "as and when appropriate", and there can be no certainty that Bond will accept the offer.
By Hannah Boland; [email protected]; @Hannaheboland
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