CSG in trading halt

By Allie Coyne on May 29, 2012 9:29 AM
Filed under Hardware

To announce "transaction".

CSG has requested a trading halt today ahead of a proposed transaction, reigniting speculation the company is once again in negotiations with a potential buyer.

The print services and IT integrator told investors this morning an announcement would be made before the end of trading today. It requested the ASX grant a trading halt due to the “material” nature of the announcement.

CSG declined to comment on the nature of the transaction.

In September last year the company announced an unnamed suitor had offered $1.20 a share for the company. CSG's share price at close yesterday was $0.63 per share. 

By December, CSG announced the deal was off, citing board dissatisfaction with the offer.

Remember to sign up to our CRN Channelwire bulletin to stay connected with the latest channel news and analysis from Australia and around the world.

A CSG spokesperson told CRN at the time the process had been costly, disruptive and created uncertainty amongst the company's customers.

CSG's fast-growing print services division is a jewel in the company's crown. Speculation has grown that one or more global printer makers is coveting the asset.

The division contributed $222.8 million of CSG's total revenues for the last financial year of $388.6 million.

Follow us on Facebook and Twitter

Copyright © CRN Australia. All rights reserved.


CSG in trading halt
Top Stories
HP taps Microsoft Azure as preferred public cloud partner
Microsoft to make HPE infrastructure its preference.
Dicker Data and Cisco celebrate Christmas
[Photos] Who was at the Sydney drinks on 25 November?
Sign up to receive CRN email bulletins
Was your most important vendor the same in 2015 as in 2014?

Latest Comments
CRN Magazine

Issue: 343 | October 2015

CRN Magazine looks in-depth at the emerging issues and developments for the channel, and provides insight, analysis and strategic information to help resellers better run their businesses.