RDY.ASX: Unsolicited Non-Binding Indicative Proposal to acquire RDY

Unsolicited Non-Binding Indicative Proposal to acquire RDY

Stock	Readytech Holdings Ltd (RDY.ASX)
Release Time	1 Jun 2026, 10:51 a.m.
Price Sensitive	Yes

This feature provides summaries of price-sensitive announcements for companies followed by users on InvestorPA. The summaries are generated by large language models so please interpret with care.

ReadyTech Rejects Unsolicited Acquisition Proposal

Key Points

ReadyTech received a non-binding proposal from Total Specific Solutions
Proposal offered $2.00 per share for 100% acquisition
Board rejected the proposal, citing undervaluation of ReadyTech
Proposal also had a 50.1% minimum acceptance condition
Shareholders do not need to take immediate action

Full Summary

On June 1, 2026, ReadyTech Holdings Limited (ASX:RDY) announced that it had received an unsolicited, non-binding indicative proposal from Total Specific Solutions to acquire 100% of ReadyTech for cash consideration of $2.00 per share. The proposal was made in parallel to an off-market bid with a 50.1% minimum acceptance condition at $1.75 per share. The ReadyTech Board determined to reject the proposal as it did not reflect the inherent value of ReadyTech in a change of control context and was not executable. ReadyTech shareholders are advised not to take any action. ReadyTech is being advised by Jefferies Australia.

Guidance

No specific financial guidance provided in the announcement.

Outlook

ReadyTech remains focused on its mission-critical SaaS offerings for various sectors.