CSG approached in takeover bid

Summary:An unnamed company has approached IT services company CSG Group with a bid to acquire all of its shares.

in brief An unnamed company has approached IT services company CSG Group with a bid to acquire all of its shares.

CSG Group issued a release to the Australian Stock Exchange today, notifying the market of the unnamed buyer's intentions.

"CSG Limited announces that it has received a non-binding, indicative and confidential proposal to acquire all of the issued fully paid ordinary shares of the company by way of an off-market takeover offer," the release said.

CSG's statement added that the proposed offer price per share is $1.20. The board has not yet formed a view on the takeover offer and recommends shareholders "take no action" at this time.

Topics: Legal, Tech Industry

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A fresh recruit onto the tech journalism battlefield, Luke Hopewell is eager to see some action. After a tour of duty in the belly of the Telstra beast, he is keen to report big stories on the enterprise beat. Drawing on past experience in radio, print and magazine, he plans to ask all the tough questions you want answered.

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