iClick Interactive Asia Shares Pop on Higher Takeover Offer

By Benzinga
Benzinga
Benzinga
October 18, 2021 Updated: October 18, 2021

iClick Interactive Asia Group Ltd. revealed receipt of another takeover offer dated Oct. 13 from Infinity Equity Management Co. Ltd via special purpose vehicle (SPAC) at $7.50 per ADS in cash. The offer price represents a premium of 15 percent to the Oct. 15 closing price of $6.50.

iClick is an independent online marketing and enterprise data solutions provider in China.

The board will evaluate the takeover together with the previous takeover offer from PAG Pegasus Fund LP and Oasis Management Company Ltd.

PAG Pegasus Fund LP and Oasis Management Company Ltd. offered to acquire iClick for $6.75 per ADS. The offer price implied a 21 percent premium on iClick’s Sept. 22 closing price of $5.58.

Price Action

iClick’s shares traded higher by 3.85 percent at $6.75 on the last check Monday.

By Anusuya Lahiri

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