Infomedia’s Friday results are almost here, but its two suitors are nowhere close to cinching a deal.
There’s a bit of scepticism creeping in at Infomedia, and its ability to turn one of two non-binding bids at $1.70 a share into a firm offer.
However, while doing so, markets have changed considerably. Financing for leveraged buyers is tougher, the SInfomedia was calling for binding bids in Onlookers reckon TA/Viburnum’s interest is alive, just maybe not at the earlier price, while it’s hard to find any proof of life in Australia that the strategic Solera is still kicking. In a small market where it’s notoriously hard to hide your bankers, lawyers and financiers, it’s either a master of disguise or playing dead.
Should the suitors not stand up bids at $1.70, Infomedia’s board could always send its bankers back to a bunch of other potential strategic suitors who were sniffing around but for whatever reason didn’t get involved in the auction.
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