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.
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