Smartgroup shares rocket on TPG’s $1.4b takeover offer
Shares in salary packaging and fleet management services play Smartgroup have surged after a TPG Global-led consortium lobbed a $1.4 billion takeover bid.
TPG Global and Potential Capital have offered to acquire the company for $10.35 per share – a deal first revealed by Street Talk – and the Smartgroup board has decided it is in its best interest to grant the pair due diligence.
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