iSoft faces final day on the ASX

 

Shareholders and court approve CSC's $460m buy.

Australian e-health supplier iSoft will cease trading on the Australian stock exchange (ASX) today in the lead up to its $460 million buy-out by industry giant CSC.

The deal passed its final regulatory hurdle when it was approved by shareholders on Friday and by the Federal Court this week.

Court orders approving the deal were to be lodged with the Australian Securities and Investment Commission today.

According to iSoft’s statement to the ASX (pdf), investors holding iSoft shares and options as of 7pm on 26 July would be paid on 29 July, in accordance with to CSC’s offer.

All issued shares and options in iSoft would then be cancelled.

Shareholders in iSoft unanimously approved the proposal last Friday. Majority shareholder OCP also approved the deal, as did investors controlling 96.58 percent of non-OCP shares.

Copyright © iTnews.com.au . All rights reserved.


iSoft faces final day on the ASX
 
 
 
Top Stories
Myer CIO named retailer's new chief executive
Richard Umbers to lead data-driven retail strategy.
 
Empty terminals and mountains of data
Qantas CIO Luc Hennekens says no-one is safe from digital disruption.
 
BoQ takes $10m hit on Salesforce CRM
Regulatory hurdles end cloud pilot.
 
 
Sign up to receive iTnews email bulletins
   FOLLOW US...
Latest Comments
Polls
Who do you trust most to protect your private data?







   |   View results
Your bank
  35%
 
Your insurance company
  5%
 
A technology company (Google, Facebook et al)
  9%
 
Your telco, ISP or utility
  8%
 
A retailer (Coles, Woolworths et al)
  4%
 
A Federal Government agency (ATO, Centrelink etc)
  18%
 
An Australian law enforcement agency (AFP, ASIO et al)
  15%
 
A State Government agency (Health dept, etc)
  7%
TOTAL VOTES: 4122

Vote
Do you support the abolition of the Office of the Information Commissioner?

   |   View results
I support shutting down the OAIC.
  27%
 
I DON'T support shutting the OAIC.
  73%
TOTAL VOTES: 1404

Vote