Goodbye Spookfish, nice knowing you – US takeover gets the legal nod
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Spookfish expects its shares to be suspended from trading by the final bell today, after the Federal Court approved its acquisition by shareholder and US aerial photographer EagleView.
EagleView Technologies launched a $122 million takeover bid for Spookfish (ASX:SFI) back in July.
In September, it increased its offer to SFI shareholders to 9c per share.
Privately-held EagleView already has a 10 per cent stake in the business and worked with Spookfish on developing its products for the US.
On Friday, Spookfish told investors that the Federal Court had approved the deal. It is lodging a copy of the Court’s orders with ASIC today, when the scheme will become legally effective.
“Spookfish will then apply for its shares to be suspended from trading on the ASX with effect from the close of trading on Monday,” the company said.