Newly minted Livetiles chair Jesse Todd (a former ABN Amro investment banker) appears to be wasting no time responding to the software company’s critics and seeking to unlock value for shareholders.
While he may not yet have responded to Bigtincan Holdings, which lobbed a 7¢ a share cash bid subject to due diligence, he’s understood to have been kept busy fielding calls from other interested parties, who may be keen to take a look under the company’s bonnet should it open a data room.
LiveTiles chief executive and big shareholder Karl Redenbach has a new chairman, and interested parties circling.Bankers reckon the interest is stemming from US private equity or PE-backed strategic companies - which is unsurprising given where the likes of Nitro Software, Nearmap and Elmo Software found their suitors.
It’s not clear how Livetiles may respond to the approaches, however it looks Todd and Co are taking them seriously.A advisory shop Atlas Technology Group in its camp in recent weeks.As far as Street Talk is concerned, calling in the bankers is as good as any that there’s potential action afoot. Todd’s got enough on his plate to have bankers asking for some of his time, unless they’re needed.
It’ll be interesting to see whether the interest goes any further. Bigtincan’s still sitting on its offer, yet to either a yes or a no. It is understood there has been some back and forth between the parties, although it’s obviously slow burn.. Shareholders knocked the delisting on the head, and there was a board and management team cleanout soon after.
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