Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

EWS improves final SLI offer

By Gavin Evans

Nov. 8 (BusinessDesk) - Texas software investor ESW Holdings has improved its final offer for Kiwi e-commerce software seller SLI Systems.

ESW has confirmed a price of 65 cents, or $41.4 million, for SLI’s shares. That is 3 percent more than the minimum price the company indicated on Oct. 23.

The shares last traded at 57 cents.

Austin-based ESW has also raised its offer for most of the 74 tranches of options Christchurch-based SLI has issued since 2006. The final prices range from from 3 cents to 40 cents, up from 3 cents to 34 cents initially.

ESW buys and grows software companies, targeting firms with an enterprise value of between US$10 million and US$250 million. It indicated an interest in buying SLI in July and was granted permission to carry out due diligence in August.

Its offer was roughly twice the market price last month. It already has acceptances for about 51 percent of the business, including the interests of co-founders Shaun and Grant Ryan, Pie Funds Management and Milford Funds Management.

If successful, ESW plans to delist SLI and expand the business by building on its existing retail relationships. If it doesn't reach the 90 percent threshold to enforce the remaining shareholders to sell, it may waive that condition and instead stack the board with its representatives.

(BusinessDesk)

ends

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

'Unprecedented' Conditions: Genesis Coal Burn 5-Yr High

Coal-fired generation from Genesis Energy’s Huntly operations was the highest in more than five years in the December quarter, as a combination of low hydro storage and plant outages were compounded by tight natural gas supplies. More>>

ALSO:

Climate Summary: NZ’s Equal-2nd Warmest Year On Record

Annual temperatures were above average (+0.51°C to +1.20°C above the annual average) across the majority of New Zealand... 2018 was the equal 2nd-warmest year on record for New Zealand, based on NIWA’s seven-station series which began in 1909. More>>

ALSO:

GDP: Economic Growth Dampens In The September Quarter

Gross domestic product (GDP) rose 0.3 percent in the September 2018 quarter, down from 1.0 percent in the previous quarter, Stats NZ said today... GDP per capita was flat in the September 2018 quarter, following an increase of 0.5 percent in the June 2018 quarter. More>>

ALSO:

Up $1.20: $17.70 Minimum Wage For 2019

Coalition Government signals how it will move toward its goal of a $20 p/h minimum wage by 2021... “Today we are announcing that the minimum wage will increase to $17.70 an hour on 1 April 2019." More>>

ALSO: