Market Chatter: Sias Advises Shareholders to Reject Ennoconn's Offer to Acquire Nera Telecommunications

MT Newswires

2024/10/10

Securities Investors Association (Sias) has advised shareholders to reject Ennoconn's offer to acquire Nera Telecommunications (SGX:N01), according to a report by the Business Times on Thursday.

Sias founder and chief executive David Gerald said that Nera's independent financial adviser shared a similar sentiment, according to the report.

According to the statement, the wording mandatory in the offer does not legally bind shareholders into accepting the offer.

In a previous company filing, Nera Telecommunications had pointed out that Ennoconn was not going to revise its offer to shareholders of SG$0.075 per share.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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