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BRIEF-Veda Group receives revised proposal from Equifax

Published 06/10/2015, 09:14 am
Updated 06/10/2015, 09:18 am
© Reuters.  BRIEF-Veda Group receives revised proposal from Equifax
EFX
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VED
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Oct 6 (Reuters) - Veda Group Ltd VED.AX :

* Veda board to recommend Equifax's revised proposal VED.AX

* Received revised proposal from Equifax Inc (NYSE:EFX) to acquire all of the shares of Veda at a price of $2.825 cash per share

* Revised proposal represents an implied market capitalisation of $2.50 billion and an implied enterprise value of $2.62 billion

* Veda has agreed to a number of exclusivity terms in order to receive the revised proposal

* Agreed to allow Equifax to conduct due diligence during exclusivity period and to recommend revised proposal assuming it proceeds to binding offer

* Under revised proposal, Veda would not declare an interim dividend for the half year ending 31 December 2015

* There is no certainty that revised proposal will result in binding offer for Veda shares or that a scheme implementation agreement will be agreed

* Source text for Eikon ID:nASX7SY6lr

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