Due diligence with US-listed company intending to make an offer to take over 51% of the shares in DecideAct A/S ("DecideAct" or "Company") or more, as announced on 14 November 2024, is taking longer than anticipated for reasons outside the control of DecideAct. The offer date and potentially also completion date is therefore delayed.
DecideAct A/S [ACT]
Company Announcement No. 11-2024:
NASDAQ FIRST NORTH GROWTH MARKET, COPENHAGEN
DecideAct signed a non-binding Letter of Intent (LOI) with a US-listed company to receive an acquisition offer for a minimum of 51% of the shares in the Company. As announced on 14 November 2024 in company announcement no. 10-2024, the potential acquirer intended to make the acquisition offer on 1 December 2024.
The potential acquirer is currently delayed in completing due diligence due to other strategic acquisitions taking place at the same time. The potential acquirer has therefore informed the Company that the potential acquirer will not receive the offer on 1 December 2024.
Due to a continuing positive outlook in the discussion with the potential acquirer, DecideAct has no reason to believe that the potential acquirer has changed intentions during the process. However, the Company has not yet received a new date for when the potential acquirer intends to submit the offer. The Company will make another announcement once it has received a firm date for receipt of the offer from the potential acquirer.
As also announced on 14 November 2024 in company announcement no. 10-2024, the planned completion date for the transaction was set to 14 February 2025. The delay in due diligence with the potential acquirer may affect this completion date.