PEP’s understood to be well progressed in its due diligence, having turned up with an indicative proposal and the company agreeing to a period of highly confidential DD.
PEP’s understood to have the support of ReadyTech’s biggest investor, another PE firm, Pemba Capital, which is keen to see ReadyTech taken off the ASX, and a supportive target board.
The question is whether anyone else turns up, now that the news is out there. Jefferies is in ReadyTech’s corner.
It’s just another software company bid, and continuation of a trend that’s already claimed Nearmap, Elmo Software, Nitro Software, Tyro Payments and Infomedia, among others.
Macquarie’s all over the favourite, Deauville Legend, saying it has the quality to outpace its rivals.
We’re all for Mac’s Quants having a bit of fun, and love their note. We just hope they haven’t skewed the model this year to try to get a win given a lean few years!
Happy reading, Anthony Macdonald, Sarah Thompson and Kanika Sood Street Talk editors
A bunch of fundies returned to their desks looking a bit sunned on Monday, having spent the past few days up at Hamilton Island for a bit of biotech and barrier reef.
Brickworks’ appetite for robotic bricklayer FBR Ltd shows no sign of slowing, with the group understood to be behind another large parcel of shares on Monday night.
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