Envirosuite (ASX:EVS) said Ideagen received a "no objection letter" from Australia's Foreign Investment Review Board (FIRB), confirming the government has approved the proposed acquisition of 100% of the company's shares through a scheme of arrangement, according to a Monday filing with the Australian bourse.
The deal remains subject to other conditions, including a vote by Envirosuite shareholders, the filing said.
The board is unanimously recommending shareholders vote in favor of the Ideagen acquisition, provided there's no superior offer and an independent expert confirms it's in shareholders' best interest, per the filing.
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