Spotless Group Holdings Ltd


SPO Details

·       Reiterates advice to take no action:Spotless Group Holdings Ltd (ASX: SPO) stock rose over 1.8% as on April 13, 2017. SPO has reiterated its advice to take no action in relation to Downer EDI Limited’s unsolicited highly conditional Takeover Offer for the company. The SPO Board intends to dispatch a Target's Statement to SPO shareholders on or before 27 April 2017. Till then, the shareholders are advised that there is no need to take any action in relation to the offer. SPO has also indicated that it is advancing discussions in respect of a potential superior proposal. Meanwhile, the group has ceased to be a substantial holder from National Australia Bank Ltd.
·       Recommendation: SPO stock rose over 41.83% in a month (as of April 12, 2017). We give a “Hold” recommendation at the current price of $1.105
 
Touchcorp Ltd


TCH Details

·       Received non-binding indicative proposal:Touchcorp Ltd (ASX: TCH) stock rose over 9.8% on April 13, 2017 after the company received non-binding indicative offer. TCH has lately announced about its merger with Afterpay Holdings Limited. The group has now considered the latest indicative proposal from a third party to acquire company’s operating assets and has determined that it does not constitute a superior proposal as defined in the agreement with Afterpay. Therefore, TCH will continue to pursue the merger with Afterpay as per the timetable agreed between the parties.
·       Recommendation: TCH stock rose over 28.16% in the last three months (as of April 12, 2017). We give a “Hold” recommendation at the current price of $1.45

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