N/A (c) Name of offeror/offeree in relation … Managed services and software company, Citadel Group (ASX:CGL), has received a $503 million takeover offer from Pacific Equity Partners. We are a leading software and technology company that specialises in secure enterprise information management in complex environments. This is in the absence of a superior proposal and subject to the independent expert concluding that it is in their best interests. Read our Terms, Financial Services Guide, Privacy Policy. If the scheme is implemented, the Citadel board intends to declare a fully franked special dividend of up to 15 cents per share. Citadel Group snags $503M acquisition offer from Pacific Equity Partners. If you don’t know what your needs are, you should consult a trusted and licensed financial adviser who can provide you with personal financial product advice. The Citadel Group Limited (ASX: CGL) (Citadel) is pleased to announce that the Scheme of Arrangement (Scheme) pursuant to which Citadel will be acquired by Pacific Group Bidco Pty Ltd (PEP Bidco), an entity owned by funds advised by Pacific Equity Partners Pty Limited (PEP), has been implemented today, Thursday 17 December 2020. Regardless, shareholders will receive the previously declared fully franked final dividend of 6 cents per share on 1 October 2020. The selected individuals begin a four-year term on 1 July 2020. Citadel chief executive Mark McConnell credits a formative ”baptism of fire” in the air force giving him the leadership mettle needed to succeed in the business world, as the officer-turned-entrepreneur steers a proposed $500m takeover deal announced on Monday. So if you’re looking to get your finances on track and you’re in or near retirement – we’ve got you covered! Citadel (ASX:CGL) share price rockets 39% higher on $450 million takeover offer, 10 Stocks To Buy (including 2 Every Investor Should Own), Setting Yourself Up for Success Before You Start. It's what we do. We are excited to announce Candesic acts as Advisor to Pacific Equity Partners in the acquisition of the Citadel Group, a managed services provider and software developer. Join Our Premium Community Across a range of investment strategies, we deploy capital with the goal of delivering market leading investment results to our capital partners. Please read our Terms and Conditions and Financial Services Guide before using this website. Join our flagship membership service, Share Advisor. Please read our Terms & Conditions and Financial Services Guide before using this website. Based on the cash consideration of $5.70 per share, Pacific Equity Partners is valuing Citadel’s equity at $448.6 million and enterprise value at $503.1 million. Find the investing style that's right for you. Outside of reading and researching he spends many a late night watching the English Premier League and Seinfeld reruns. At a significant premium to the current trading price, PEP’s offer provides Citadel shareholders with certainty of value and the opportunity to realise their investment in full for cash,” he added. This is a SERIOUS growth stock. You can do it. Could the Qantas Airways Limited (ASX:QAN) share price fly higher after NZ announced a two-way bubble with Australia? James is part of the CFA Institute’s Chartered Financial Analyst program and hopes it teaches him how to become an astute investor which allows him to help others with their own investing. Hear our experts take on shares, the market & how to invest. We provide secure information to support real-time decisions across the Health, National Security, Defence and Other Enterprises. James Mickleboro has been a Motley Fool contributor since late 2015. Citadel Group Form 8.3 - Home Retail Group Plc August 31 2016 - 10:00AM UK Regulatory (RNS & others) TIDMHOME. It is not specific to you, your needs, goals or objectives. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now. Used Icebound Fortitude after UA wore off, when I got low again, Hungering Cold was off CD so I popped it and bandaged, then DPS'd him down the rest of the way. Sign Up for Take Stock The Motley Fool has a disclosure policy. Class of relevant security to which the dealings being disclosed relate (Note 2) Common Stock ISIN IE00BDB6Q211. Free high-quality* financial news for everyone (*with an occasional spelling mistake). Firm is named one of the country’s 50 best workplaces for recent college graduates by Great Place to Work. The Rask Group Pty Ltd is a Corporate Authorised Representative (#1280930) of AFSL #383169. September 14, 2020 | VIEW ARTICLE. For more information please see our Financial Services Guide. Subject to an independent expert report and in the absence of a superior proposal, each Citadel director intends to vote in favour of the proposed scheme. Citadel Group. Disclosure: At the time of publishing, the author of this article does not have a financial or commercial interest in any of the companies mentioned. Listen to Our Podcast The $5.70 consideration will be reduced to the extent of any special dividend. Ate after the first one, as the group of 3 came in, started with Hungering Cold and killed the 2 adds. More » The Ioupay Ltd (ASX:IOU) share price soared 10% in early trading in response to a new partnership. Information warning: The information on this website is published by The Rask Group Pty Ltd (ABN: 36 622 810 995) is limited to factual information or (at most) general financial advice only. ASX 200 | A B C D E F G H I J L M N O P Q R S T U V W X. Terms, Financial Services Guide, Privacy Policy. Citadel Group (b) Owner or controller of interests and short positions disclosed, if different from 1(a): The naming of nominee or vehicle companies is insufficient. BUZZ-Australia's Citadel Group eyes best day ever on $326 mln takeover bid 14th Sep '20 News UPDATE 1-Australia's Citadel Group gets $326 mln bid from Pacific Equity Authorised by Scott Phillips. Group Limited (ASX:CGG) ”), under which (“Citadel proposes to acquire all of the iEquinox ssued and outstanding shares of Citadel by way of a recommended takeover offer (the “Offer”) The Board of . Investment news, stock ideas, and more, straight to your inbox. Please remember that investments can go up and down. A scrip alternative is also available to Citadel shareholders. #Consulting #Deals #SoftwareDeveloper #PrivateEquity #Investment. Financial Services Guide |
Citadel’s Chairman, Peter Leahy AC Lt-Gen (Retd), believes it is an attractive offer. The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has published the new list of members of its Securities and Markets Stakeholder Group (SMSG) following approval by its Board of Supervisors. Citadel receives “A” grade in Institutional Investor’s alpha report card, wins five awards from Absolute Return, and is Named Hedge Fund of the Year by Risk Magazine. Because of that, you should consider if the advice is appropriate to you and your needs, before acting on the information. By clicking this button, you agree to our Terms of Service and Privacy Policy. As he came out, popped Unbreakable Armor and DPS'd as usual, using a few Death Strikes again. CLICK HERE to get the ASX stock ticker code, 3,500-word analysis and ASX founder interview! The Citadel Group Limited develops and delivers systems, services, and managed solutions to the government and private sector. Canadian-Australian copper miner Equinox Minerals unveiled an agreed A$1.25 billion ($1.23 billion) takeover of smaller Australian-listed peer Citadel Resource Group on Monday. That means, the information and advice does not take into account your objectives, financial situation or needs. Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. Learn about investing with our Investing Education hub. Citadel’s software helps client management make real-time decisions in health, national security, defence, education and other industries. Please refer to our Financial Services Guide (FSG) for more information. Do shares of a2 Milk (ASX:A2M) and Austal (ASX:ASB) meet Peter Lynch’s investment criteria? However, it is worth noting that it is a significant discount to where its shares were trading in November 2018. That means, the advice does not take into account your objectives, financial situation or needs. Formed in 2007, its name comes from the idea of being a medieval fortress to defend against invaders. Citadel board chair Peter Leahy said, “The [PEP acquisition bid] is an attractive transaction which provides an all-cash option for Citadel shareholders. According to the release, the two parties have entered into a binding scheme implementation deed, under which it is proposed that Pacific Equity Partners will acquire Citadel for $5.70 per share in cash. If you don’t know what your needs are, you should consult a trusted and licensed financial adviser who can provide you with personal financial product advice. For those unfamiliar, Citadel is a software and services company that specialises in secure information management in complex environments. Privacy Policy |
Humm NZ sends FlexiGroup (ASX:FXL) share price higher. Investors have been scrambling to buy the company’s shares on Monday after it revealed that it has received a takeover approach from Pacific Equity Partners. Citadel’s board unanimously recommends that shareholders vote in favour of the scheme. For a limited time, The Motley Fool Australia is giving away an urgent new investment report outlining our 5 favourite stocks for investors over 50. Citadel Group. Everything You Need to Know About Tech Investing. WILLIS TOWERS WATSON PLC. The group was angered by the original NBC-Citadel takeover bid, which it considered a self-serving offer that short-changed preferred shareholders while seeming to benefit General Electric’s NBC. ... NMC Health’s Aspen disposal could end with propco takeover The Citadel Group Ltd (ASX: CGL) share price is flying today after the software company revealed a proposed takeover bid. The Motley Fool Australia does not guarantee the performance of, or returns on any investment. The Motley Fool Australia operates under AFSL 400691. The Citadel board has unanimously concluded that the Scheme represents a compelling outcome for our shareholders, customers, suppliers, and staff.” Because of that, you should consider if the advice is appropriate to you and your needs, before acting on the information. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. Under the deed, PEP will acquire 100% of the share capital in Citadel by way of a scheme of arrangement for $5.70 per share in cash. Each company boasts strong growth prospects over the next 3 to 5 years, and most importantly each pays a generous (and fully franked) dividend! In late afternoon trade, Citadel shares have jumped 39.7% to $5.56 in response to the news. Investors have been scrambling to buy the company’s shares on Monday after it revealed that it has received a takeover approach from Pacific Equity Partners. Nevertheless, the company’s directors are supportive of the offer and are recommending that shareholders vote in favour of the scheme. Managed services provider and software developer Citadel Group will be acquired by Pacific Equity Partners (PEP) for more than $500 million. Past performance is not necessarily indicative of future returns. The cash consideration represents a 43.2% premium to Citadel’s last closing price of $3.98 and values Citadel at an enterprise value of $503.1 million. Class of relevant security to which the dealings being disclosed relate (Note 2) In this FREE STOCK REPORT, Scott Phillips just revealed what he believes are the 3 ASX stocks for the post COVID world that investors should buy right now while they still can. Citadel LLC (formerly known as Citadel Investment Group, LLC) is an American multinational hedge fund and financial services company. Company dealt in. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*. The Zip Co Ltd (ASX: Z1P) share price jumped 9% today, making it one of the biggest gains recorded in the ASX 200 (ASX: XJO). This article contains general investment advice only (under AFSL 400691). Visit raskmedia.com.au to find the latest news, insights, video and audio content. Accordingly: In addition, the Scheme is positive news for Citadel staff, as we believe there will be increased opportunities to develop new technologies with new partners and advance and grow their careers.”, When investing expert Scott Phillips has a stock tip, it can pay to listen. The SMSG will provide ESMA with advice on its policy work and must be consulted The information on this website is general financial advice only. Under the terms of the unsolicited approach, Pacific Equity Partners would acquire 100 per cent of … The Motley Fool Australia has recommended Citadel Group Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Our Top 5 Stocks for Investors 50 or Older – NOW AVAILABLE! Company dealt in. Following this, shareholders will have the opportunity to vote on the scheme in December. Win at Retirement Qantas (ASX:QAN) share price flies higher on NZ bubble, Why the Afterpay (ASX:APT) share price is going bananas, Why the IOUpay (ASX:IOU) share price is going nuts, Suez acquisition? Citadel (ASX:CGL) share price rockets 39% higher on $450 million takeover offer James Mickleboro | September 14, 2020 2:12pm. The Citadel Board has unanimously concluded that the Scheme represents a compelling outcome for our shareholders, customers, suppliers, and staff.”. For a trust, the trustee(s), settlor and beneficiaries must be named. Citadel has entered into a scheme implementation deed with Pacific Group Bidco, an entity owned by funds advised by Pacific Equity Partners (PEP). Home / Share Market News / Mergers & Acquisitions / Citadel (ASX:CGL) share price rockets 39% higher on $450 million takeover offer, James Mickleboro | September 14, 2020 2:12pm | More on: CGL. Keeping People and Information Safe We are an enterprise software and services company that specialise in managing information in complex environments. Citadel has recommended unanimously that Citadel shareholders accept the Offer, in the absence of a superior proposal. Citadel Group. How Much Money Do I Need To Start Investing? Citadel noted that if the scheme is implemented, the board intends to declare a fully franked special dividend of up to 15 cents per share on, or shortly before, the implementation date of the scheme. Our company is Australian owned. Some might call this offer opportunistic. Our latest articles and strategies for the post-work life you want. Commenting on the proposal, Citadel chair Peter Leahy AC said: “The Scheme is an attractive transaction which provides an all-cash option for Citadel shareholders. Terms of Service |
Candesic is proud to announce our role as Adviser to Australia's The Citadel Group on its acquisition of Wellbeing Software, a leading provider of radiology and maternity software in the UK for £103 million. In addition, you should obtain and read the product disclosure statement (PDS) before making a decision to acquire a financial product. © 2009 - 2021 The Motley Fool Australia Pty Ltd. All rights reserved. We’ll never sell your email address. Unsubscribe anytime. Formed in 2007, its name comes from the idea of being a medieval fortress to defend against invaders. At that point the company’s shares were changing hands for over $9.00. Connected healthcare specialist, Wellbeing Software is to be acquired by Australia’s Citadel Group in a move which both expands on and enhances the company’s mission to deliver connected healthcare across UK healthcare organisations while also supporting international growth in speciality areas of radiology workflow, maternity, electronic patient health records and data management. This offer represents a 43.2% premium to the closing price of Citadel shares on 11 September 2020. PEP is an Australian private equity firm with more than $5 billion of assets under management. Mr Leahy also notes that it gives shareholders certainty of value and the opportunity to realise their investment in full. In markets around the world, we work relentlessly to uncover and capture new opportunities. Why the Cleanaway (ASX:CWY) share price is on watch. This Service provides only general, and not personalised financial advice, and has not taken your personal circumstances into account. You can unsubscribe at anytime. The Citadel Group Ltd (ASX: CGL) share price is flying today after the software company revealed a proposed takeover bid. Furthermore, it is actually lower than its February high of $5.92. That's our mission. RNS Number : 5846I. In addition, you should obtain and read the product disclosure statement (PDS) before making a decision to acquire a financial product. The Citadel Group Ltd (ASX: CGL) share price has returned from its trading halt this afternoon and rocketed higher. This was the start of a love affair with Australian equities and he hasn’t looked back since. Citadel expects to dispatch the scheme booklet to shareholders in late October. Citadel. The Complete Guide to Planning For Your Retirement, Setting up an SMSF: 10 Things You Need to Know Before Starting, 3 easy steps to building your ASX share portfolio for an early retirement, 4 tips on how to pick winning stocks for your retirement share portfolio, This is the best asset to own to start saving for your early retirement, Commonwealth Bank of Australia (ASX: CBA), Flight Centre Travel Group Ltd (ASX: FLT), Vanguard Australian Shares Index (ASX: VAS), Beat low rates with these quality ASX dividend shares, 2 of the best small cap ASX shares to watch, Insiders have been buying Nearmap (ASX:NEA) and this ASX share. The scheme is subject only to conditions customary for transactions of this type, including regulatory, court and shareholder approval, and is not subject to financing or due diligence. Subscription Terms of Service, ACN: 146 988 052 | Australian Financial Services Licence (AFSL): 400691, The Motley Fool Australia, PO Box 4635, Ashmore, Qld 4214. A scrip alternative will also be available to shareholders. The Citadel Board has unanimously concluded that the Scheme represents a compelling outcome for our shareholders, customers, suppliers, and staff.”. The chairman concluded: “Citadel’s customers will benefit from access to a broader product suite and service capability given Citadel’s ability to invest more in growth markets and sectors, and further develop its industry-leading software solutions, with PEP’s backing. He said: “The Scheme is an attractive transaction which provides an all-cash option for Citadel shareholders. This would enable shareholders to receive up to 6.4 cents per share of additional benefit from franking credits. Unsubscribe anytime. After studying economics at university back home in the United Kingdom, James came to live in Australia and managed to land a job at an Australian fund manager. Date of … In late afternoon trade, Citadel shares have jumped 39.7% to $5.56 in response to the news. Our expert investment reports are 100% free. Rask's top analyst has just identified his #1 'MedTech' stock idea for 2021 and beyond. Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. WILLIS TOWERS WATSON PLC. The Afterpay Ltd (ASX:APT) share price is going bananas right now after revealing strong growth of its US operations. ... NMC Health’s Aspen disposal could end with propco takeover Sep 21, 2020 – 10.00am One of the largest backers of ASX-listed software and services company Citadel Group says a $503 million acquisition bid by … The Company focuses on people and advisory, knowledge management, integration and technology, and education and training. At the time of writing the software and services company’s shares are up a massive 39% to $5.55. The company noted that the scheme involves limited conditionality. .fool-ecap.fool-ecap-id-19.fool-ecap-type-vanilla {background: #fff7c4;} aside section .fool-ecap-id-19.fool-ecap-type-vanilla h3 {font-size: 1.6em;} p.ecap-disclaimer {font-size: 0.6em!important;}div.fool-ecap.fool-ecap-id-19 form {position: relative;text-align: center;margin: .2em 1em;}.fool-ecap.fool-ecap-id-19 p.ecap-disclaimer {margin-left: 0px;} .fool-ecap.fool-ecap-id-19 p.above-email{ margin-bottom: 0px;text-align:center;} div.fool-ecap.fool-ecap-id-19 p {color: #464646;}.fool-ecap-type-vanilla.fool-ecap-id-19 h3 {color: #404040;display: block !important;}.fool-ecap-type-vanilla.fool-ecap-id-19 .ecap-disclaimer{color: #484848 !important;}.fool-ecap-id-19.fool-ecap-type-vanilla h3.title{display:none !important;} .fool-ecap.fool-ecap-id-19.fool-ecap-type-vanilla{ margin-bottom: 10px;}.fool-ecap-type-vanilla.fool-ecap-id-19 input[type="submit"] { margin: .5rem 0 .5rem !important;}.fool-ecap.fool-ecap-id-19 img {display: inline;}. Get Started Investing “The price is a very tangible measure of the value and quality of Citadel’s industry leading expertise in specialist software and critical secure information management in complex environments like healthcare, defence and national security, government and tertiary education. Today's Citadel Group Ltd (ASX:CGL) describes itself as a leading software and services company that specialises in secure information management in complex environments. The Citadel Group Limited (), which is in the it business, and is based in Australia, saw a significant share price rise of over 20% in the past couple of months on the ASX.As a small cap stock, hardly covered by any analysts, there is generally more of an opportunity for mispricing as there is less activity to push the stock closer to fair value. This consideration will be reduced by any special dividend that is declared between now and completion.
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