K3 hopes to agree deal in July
K3 BUSINESS Technology, the supply chain software specialist that put itself up for sale last month, says it hopes to be able to recommend a takeover offer for the business in July.
In a brief statement the Salford-based company said it had “received a number of indicative proposals” by last Tuesday’s deadline, which it is now clarifying.
“Potential offerors will then be given access to a detailed data room and further access to management, following which the board aims to be in a position to announce a recommended offer to shareholders during July 2012.”
K3 said it reserved the right to alter any aspect of the formal sale process or to terminate it at any time, and would update the Market if this arises.
It reiterated: “The board reserves the right to reject any approach or terminate discussions with any interested party or participant at any time.
“There can be no certainty that any offer will be made for the company or as to the level of any offer that may be made.”
The AIM-listed group is being advised by Deloitte’s Manchester-based corporate finance team.
