Elmo Software confirms acquisition approach

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Listed human resources software business Elmo Software on Tuesday confirmed it was approached by a bidder but didn’t strike a deal.

Street Talk on Monday reported Elmo, advised by UBS, went through a round of preliminary due diligence with SElmo stopped short of naming the suitor but confirmed the talks.

“ELMO confirms that it concluded exploratory discussions to a confidential, non-binding, indicative change of control proposal priced at $6.10 a share. Those discussions have since concluded,” the company said in ASX filings on Tuesday morning.

 

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