ERM Power has announced a takeover offer by Shell Energy Australia for 100% of its share capital at a cash price of A$2.465 per share, broadly in line with our DCF-based base case valuation of A$2.4/share. ERM’s directors and the largest shareholder, Trevor St Baker, support the proposal, which will be subject to shareholder approval – likely in or around early November 2019.
23 Aug 2019
ERM Power - Shell announces takeover offer
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ERM Power - Shell announces takeover offer
ERM Power has announced a takeover offer by Shell Energy Australia for 100% of its share capital at a cash price of A$2.465 per share, broadly in line with our DCF-based base case valuation of A$2.4/share. ERM’s directors and the largest shareholder, Trevor St Baker, support the proposal, which will be subject to shareholder approval – likely in or around early November 2019.