Energy One receives proposal and grants due diligence on an exclusive basis

• $5.85 cash per share.
• Bidder granted exclusivity due diligence

From the release:

Energy One Limited (“Energy One” or “the Company”) today announces that it has received a confidential, indicative, incomplete, conditional and non-binding proposal (the “Indicative Proposal”) from a global investment firm, STG. STG has nearly US$10 billion of assets under management and a portfolio that includes software and software-enabled services companies. The Indicative Proposal is to acquire all of the issued shares in Energy One at an indicative price of A$5.85 cash per share by way of a scheme of arrangement (“Potential Transaction"). Energy One has also entered into an exclusivity deed granting STG with an expedited period of exclusivity to allow STG to complete confirmatory due diligence.