Tiger Brokers

BUZZ-Australia's Close The Loop hits record low on termination of buyout talks

Reuters
Jan 29, 2025
BUZZ-Australia's Close The Loop hits record low on termination of buyout talks

** Shares of Close The Loop CLG.AX slump 25.7% to A$0.13, to hits a record low

** Environmental solutions provider reports termination of acquisition discussions with Adamantem Capital

** The proposed deal, involving the acquisition of 100% of the company's shares at A$0.27 per share, faced considerable complexity and the parties could not reach a consensus on the commercial terms, leading to the cessation of discussions - CLG

** Co expects 1H25 revenue to be broadly in line with the PCP, with EBITDA in the range of A$11 mln to $13 mln

** Stock set for three sessions of consecutive losses

** Over 11 mln shares traded, 13x the 30-day avg

** Stock fell 38% last year

(Reporting by Kumar Tanishk in Bengaluru)

((Tanishk.Kumar@thomsonreuters.com;))

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