Joint bid for firm; VEDA ADVANTAGE

The Press | January 31, 2007| | Copyright

Two private equity firms have set an $A823 million ($NZ914m) preliminary joint bid for 100 per cent of business information firm Veda Advantage -- formerly Baycorp Advantage.

Pacific Equity Partners (PEP) and Merrill Lynch Global Private Equity have made an indicative, non-binding and conditional offer of A361c a share for Veda, adjusted for any future dividends.

Shares in Veda, which is dual-listed on the Australian Stock Exchange (ASX) and the New Zealand Exchange (NZX), rose NZ58c to 390 on the NZX and up A53c to 353 on the ASX on the offer news.

No formal offer has been made at this ...

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