Brady - Recommended cash offer at 10p
Brady has received a recommended all-cash offer at 10p per share (a 50.8% premium to the closing price), valuing the issued share capital at £8.3m, from Hanover Active Equity Fund II, a private equity (PE) investor focused on SMEs in the UK and Nordic markets. The cash offer has been declared final, will be declared unconditional as to acceptances based on 50% of the share capital and may only be increased if there is a counter-offer.  Before the bid, Brady had been looking to secure additional funding for a turnaround strategy, and although negotiations have advanced, the company has not yet secured unconditional funding.Brady is engaged in the provision of integrated trading, process and risk management software solutions for global commodity, recycling and energy trading companies.
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