Broadband provider Superloop Ltd (SLC AU) has made an indicative Offer, by way of a Scheme, for cloud communication software outfit Symbio Holdings (SYM AU).
Under the proposal, Symbio shareholders would receive A$1.425 (cash) and 2.14 new Superloop shares for each Symbio share held, for an implied price of A$2.85/share, a 20% premium to undisturbed.
A four-week period of reciprocal exclusivity has been agreed to further progress the proposal.
Symbio is illiquid. Look away now if that is not your bag.