Reglikedomain industry desk

Launched for Dark Blue Sea — Takeover Bid

Launched for Dark Blue Sea — Takeover Bid

Photon launches takeover of Dark Blue Sea.

Dark Blue SeaPhoton Group has launched a takeover bid for Dark Blue Sea, parent firm of Fabulous.

Photon right now owns 30.55% of all issued ordinary shares of Dark Blue Sea. The firm is offering to buy outstanding ordinary shares for 30 cents per share, which it states is a 56% premium to the average share price over the past month.

Dark Blue Sea’s second largest shareholder, Huon Capital, states it intends to accept the offer provided that it doesn’t receive a higher offer.

Photon Group’s offer is subject to being able to purchase at least 50.1% of the firm to gain control. It also requires that Dark Blue Sea not issue any additional shares. Still, the day following Photon Group disclosed its offer, Dark Blue Sea disclosed that it had by now issued additional shares the day ahead of Photon’s offer.

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