Why Elph Investments Just Raised Its Takeover Offer for Engenco Shares
Elph Investments has raised and finalised its off-market takeover bid for Engenco Limited shares at $0.31 per share, applying to all shareholders including those who already accepted. This move signals a decisive step in the ongoing acquisition process.
- Offer price increased from $0.305 to $0.31 per Engenco share
- Price increase applies retroactively to all shareholders who accepted
- No other terms of the offer have changed
- Offer fully funded and approved by Elph Investments directors
- Formal notice lodged under Corporations Act section 650D
Elph Investments Raises Offer Price
Elph Investments Pty Ltd has officially increased its off-market takeover offer for Engenco Limited (ASX, EGN) shares from $0.305 to a final and non-negotiable price of $0.31 per share. This adjustment was announced through a supplementary bidder’s statement lodged on 4 June 2025, confirming the variation under section 650D of the Corporations Act.
The increased offer price applies to all Engenco shareholders who accept the bid, including those who have already agreed to the previous offer. This retroactive application is a strategic move to incentivise shareholders to accept the offer promptly and to consolidate support for the takeover.
Terms and Funding Confirmed
Aside from the price increase, all other terms of the offer remain unchanged. The offer is fully funded, with Elph Investments’ directors having approved the variation by resolution, ensuring the financial backing necessary to complete the acquisition.
The formal notice lodged with the Australian Securities and Investments Commission (ASIC) and ASX underscores the regulatory compliance of the process. The bidder’s statement and supplementary documents provide detailed instructions for shareholders on how to accept the offer.
Implications for Engenco Shareholders and Market
For Engenco shareholders, the increase to $0.31 per share represents a modest but meaningful premium, potentially influencing undecided shareholders to tender their shares. The firm stance that this price is final removes uncertainty around further negotiations, allowing shareholders to make informed decisions.
Market observers will be watching closely to see how this final offer affects Engenco’s share price and whether it will lead to a successful takeover. The absence of competing bids or changes to offer conditions simplifies the landscape but leaves questions about shareholder acceptance rates and potential regulatory hurdles.
Overall, Elph Investments’ move to raise and finalise its offer signals confidence in the value proposition and a clear intent to secure control of Engenco Limited.
Bottom Line?
Elph Investments’ firm final offer at $0.31 per share sets the stage for a decisive conclusion to the Engenco takeover battle.
Questions in the middle?
- What percentage of Engenco shareholders have accepted the offer so far?
- Could any competing bids or counteroffers emerge following this final price increase?
- How will Engenco’s board and management respond to the final offer?
