Advtech’s two largest investors voted against the re-election of the company’s incoming chairman and another independent director as schools operator reiterated its opposition to a proposed takeover offer from competitor Curro.
South Africa’s largest private education firm Curro Holdings said it is considering relaunching a 6 billion rand ($485 million) takeover offer for rival Advtech, raising the prospect of a hostile bid.
Takeover advances by PSG Group’s education arm Curro have been spurned by Advtech whose independent directors voted unanimously to break off discussions.
Anchor Capital provides a comprehensive market review covering everything you need to know about local and global markets.
The JSE all-share index is relatively flat after a slightly more positive start following stronger Asian markets this morning. Resources are up 1.2% following a rally in commodities form last week.
Alec was among those who were surprised when Advtech announced last August that its chairman, investment banker Leslie Maasdorp, would succeed long-time CEO Frank Thompson. He took over from 24 October. Just four months later, he’s gone.
Curro has added a 40th school to it’s admirable stable of private schools by acquiring St Dominic’s Academy in Newcastle.
Advtech CEO Leslie Maasdorp talks us through the R450m acquisition of Maravest, a deal worth 12% of its market cap and opportunities for education in SA.
Interviewees are usually A-type personalities you can forgive them for sometimes get the roles mixed up. But they need to appreciate that every time they come into the studio – be it television or audio – they move from being the one who calls the shots to the one who needs to answer them. Biznews … Read more
Funny thing about the financial world. There are all kinds of rules about insider trading to stop companies passing on information to one party rather than another. The rules insist everyone gets treated equally so that we all have equal access before deciding whether to buy or sell. sadly, it’s often just lip service. Many … Read more