ELMO Software urged shareholders to accept the $486 million takeover deal offered by US-based K1 Investment Management, with co-founder, chief executive and major shareholder Danny Lessem set to cash out nearly $16 million.
The lion’s share of Mr Lessem’s holding will roll over into the new company, where he will stay on as CEO.
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Jessica Sier is the North Asia Correspondent for The Australian Financial Review. She is based in Tokyo, Japan. Jessica has previously written on technology, global capital markets and economics. Connect with Jessica on Twitter. Email Jessica at jessica.sier@afr.com
