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Sedgman Ltd Not To Proceed With MDM Engineering Group Ltd Acquisition

Wednesday, 29 May 2013 07:25pm EDT 

Sedgman Ltd announced that further to the release of May 15, 2013, Sedgman provides the following update on the proposed acquisition by way of merger with MDM Engineering Group Ltd (Merger). As certain condition precedents of the Merger Implementation Agreement dated November 28, 2012, were not able to be satisfied by MDM, and have not been waived by Sedgman, the parties have been negotiating to determine if the Merger could proceed on a revised basis. A revised merger proposal did not gain the approval of the Sedgman board. Accordingly, Sedgman has formally terminated the Merger Implementation Agreement and as such the Merger will not proceed. 

Company Quote

-0.01 -1.60%
19 Sep 2014