Humanforce's Takeover Bid for LiveHire: What Investors Need to Know
LIVEHIRE LIMITED (LVH) Share Update December 2024 Tuesday 10th
Humanforce Launches Takeover Bid for LiveHire
Humanforce Holdings Pty Ltd has launched an unconditional on-market takeover bid for LiveHire Ltd, offering $0.045 per share. This move aims to acquire all ordinary shares not currently held by Humanforce and its associates.
Instant Summary:
- Humanforce offers $0.045 cash per LiveHire share.
- The offer is unconditional and best and final.
- Humanforce currently holds 94.11% of LiveHire shares.
- Independent Director recommends accepting the offer.
Takeover Details
On 25 November 2024, Humanforce Holdings announced its intention to acquire all remaining shares of LiveHire Ltd through an on-market takeover bid. The offer price of $0.045 per share is deemed fair and reasonable by an independent expert.
Humanforce already holds 94.11% of LiveHire shares, allowing it to proceed with compulsory acquisition if necessary. The offer is open until 10 January 2025, unless extended or withdrawn.
Board Recommendation
The Independent Director of LiveHire recommends shareholders accept the offer in the absence of a superior proposal. The offer provides a premium over recent trading prices and is considered the best available option for shareholders.
Market Context
LiveHire, a recruitment and talent mobility platform, has faced challenges in maintaining its market position. The offer from Humanforce represents an opportunity for shareholders to realize immediate value.
The takeover bid by Humanforce is likely to stabilize LiveHire's share price as it offers a clear exit strategy for shareholders. The premium offered could boost investor confidence, although the lack of competing bids may limit potential upside.
Investor Reaction:
Analysts have reacted positively to the takeover bid, noting the premium offered and the certainty it provides to shareholders. However, some investors may be disappointed by the lack of competing offers.
Conclusion:
Investors should consider accepting the offer given the current market conditions and the premium offered. Monitoring any developments or potential competing bids is advisable, although unlikely.