Engenco (ASX:EGN) said Elph Investments, a member of 65% stakeholder Elphinstone Group, intends to make an off-market takeover offer of AU$0.305 in cash for each company share, according to a Friday filing with the Australian bourse.
The company told shareholders to take no action while the directors assessed the offer.
Shares of the company rose past 38% at market close, hitting a 52-week high.
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