WestSide takeover talks continue

Still in communication: WestSide says talks are continuing with an unnamed party who submitted an indicative takeover proposal for the company

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Josh Lewis

 08 January 2013 05:51 GMT

WestSide says it is still in talks with an unnamed bidder about a potential takeover of the company

Australia’s WestSide Corporation has said it is still in talks with an unnamed party which submitted an indicative takeover proposal for the company last year.

WestSide received an indicative, conditional, non-binding and confidential in November last year which would see the unnamed bidder take 100% of the shares in WestSide for A$0.52 (US$0.54) per share.

WestSide had initially agreed not to solicit proposals from other parties for three weeks after receiving the proposal, but this deadline was later extended until 21 December to give the bidder more time to…

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