Leisure sector software group Gladstone has advised shareholders to take no action following the announcement yesterday (Mar 10) by Constellation Software Inc. that an offer document containing its mandatory 33p per share cash offer had been posted.
Gladstone says the possible 36p per share offer by The Active Network, Inc. announced on March 5 is an indicative offer and there can be no certainty that a formal offer will follow.
In light of this announcement and continuing discussions with Active Network, the company advises shareholders to take no action at this time.
It says a more detailed response will be sent to shareholders shortly.
Story provided by Business Financial Newswire
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