OzForex to engage in exclusive acquisition talks with Western Union

Shortly after receiving an indicative conditional proposal from The Western Union Company (NYSE:WU) for all of its issued share capital, Ozforex Group Ltd (ASX:OFX) has agreed to engage in further acquisition talks on exclusive basis to progress the proposal.

Under the proposal, Western Union will acquire 100% of the shares of OzForex for an all cash consideration of between $3.50 to $3.70 per OzForex share.

The Indicative Proposal is subject to a set of conditions, including Western Union completing due diligence and the parties entering into a definitive implementation agreement.

OzForex has agreed that during the exclusive due diligence period it will not solicit, negotiate or enter into agreements with, or provide access to non-public information to, third parties in connection with any competing proposal.

OzForex’s Board notes that there is no certainty that the Indicative Proposal will lead to a binding offer for the shares of OzForex, what the terms of any such offer would be, or whether there will be a recommendation by the Board.

To download the official announcement from OzForex, click here.

Related News


OzForex to engage in exclusive acquisition talks with Western Union


Send this to a friend

Subscribe to LeapRate
Fill out the form below for more information
for lising in LeapRate's Forex Yellow Pages

Please enter the company name, email address to reach you and phone # (optional):

Please fill out the message field to the right for any questions or special inquiry: