Recommended Acquisition of Merlin Diamonds
MED - Merlin Diamonds Announces Acquisition by Innopac Holdings
Merlin Diamonds advised that it has reached an agreement with Innopac Holdings under which Innopac agrees to make a scrip-for-scrip off-market takeover to acquire all of the shares in the company. Under the transaction, Innopac will offer 1.67 Innopac shares for every one Merlin Diamonds share. The transaction is unanimously recommended by the directors of the company, in the absence of a superior proposal.