Swoop Holdings Limited (AU:SWP) has released an update.
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Telecommunications firm Vonex Ltd has received a takeover bid from Swoop Telecommunications, but MaxoTel, holding 27.19% of Vonex shares, has declined the offer. The Vonex Board finds Swoop’s conditional bid less appealing compared to MaxoTel’s unconditional cash offer of 4.4 cents per share, which remains open to shareholders. Vonex advises shareholders to await further statements before taking any action regarding Swoop’s proposal.
For further insights into AU:SWP stock, check out TipRanks’ Stock Analysis page.
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