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Harvey Nash acquisition by Bidco to be switched to takeover offer

Published: 16:55 01 Oct 2018 AEST

Takeover offer
The offer price will remain at 130p per share in cash

Harvey Nash Group plc (LON:HVN) has acknowledged a statement by DBAY Advisors that its acquisition method has been switched to a takeover offer.

The announcement after the close on Friday said DBAY would publish an offer document and a form of acceptance to Harvey Nash shareholders “as soon as reasonably practicable” following the statement of the switch.

READ: Harvey Nash's profits surge on strong European performance

The first closing date will fall 21 days after the offer document is published.

The offer price will remain at 130p per share in cash, equal to the offer made for the entire share capital of the tech recruitment firm in early August.

Harvey Nash said it had suspended a court meeting and general meeting relating to the arrangement due at on October 2 until further notice.

Record revenues for recruiter Harvey Nash PLC

Harvey Nash PLC (LON:HVN) CEO Albert Ellis and CFO Mark Garratt discuss with Proactive Investors the group's preliminary results for the year to the end of January 2018. Ellis describes the performance in the UK as outstanding given the the uncertainty sparked by Brexit. Outside of...

on 27/4/18