Senex has entered into a binding scheme implementation agreement (SIA) with POSCO International, whereby the company will acquire 100 per cent of Senex’s shares for a cash offer price of $4.60 per share.
This news follows four and a half months after the Korean company made Senex its offer of $4 a share.
This revised offer values Senex at close to $900 million.
Northbridge Industrial Services plc (LON:NBI) hires and sells specialist industrial equipment to a non-cyclical customer base. With offices or agents in the UK, US, Dubai, Belgium, Germany, France, Australia, Singapore, New Zealand, Brazil and Korea, Northbridge has a global customer base.