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BRIEF-Onevue merges with Diversa Ltd

Published 14/06/2016, 09:51 am
© Reuters.  BRIEF-Onevue merges with Diversa Ltd
OVH
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June 13 (Reuters) - Onevue Holdings Ltd OVH.AX :

* Onevue and Diversa announce merger OVH.AX

* Boards of both Diversa and Onevue have each unanimously agreed to support the transaction

* Combined FY 16 revenues expected to exceed $40M

* Onevue anticipates that combination of the two businesses will be EPS accretive in first year

* Merged entity will realise annualised pre-tax cost synergies in the order of $4M by the end of FY 2018

* Cash requirements of scheme will be fully funded from cash raised in onevue's heavily oversubscribed December 2015/January2016 capital raisings

* Under deal,each Diversa shareholder may receive 1.2375 Onevue shares for each share

* Under deal,each Diversa shareholder have option to receive 1.073 Onevue shares for each Diversa share plus cash of $0.10 per Diversa share

* Source text for Eikon

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