iClick Interactive Asia Shares Pop on Higher Takeover Offer

iClick Interactive Asia Shares Pop on Higher Takeover Offer
A man walks out of the Stock Exchange of Hong Kong offices in the Central district of Hong Kong on Sept. 11, 2019. Nicolas Asfouri/AFP via Getty Images
Benzinga
Updated:

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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