Crimson’s Kip McGrath takeover bid wins over founder Jamie Beaton
Kip McGrath's founder has backed Crimson Consulting's unsolicited A$40 million takeover bid for the tutoring company.
Crimson Consulting has launched an unsolicited bid for ASX-listed Kip McGrath at A$0.73 per share, valuing the company at around A$40 million. The tutoring operator runs more than 500 franchised centres globally, including 60 in New Zealand. Kip McGrath founder Jamie Beaton has now publicly indicated his support for the takeover and willingness to sell his shares.
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NZ Herald
Crimson flips founder as campaign for Kip McGrath marches on
Jamie Beaton's first public raid now half-way to success.
BusinessDesk
Kip McGrath founder says he'll vote for Crimson takeover
Crimson Consulting’s raid for ASX-listed Kip McGrath is gathering pace, with the listed tutoring company’s founding namesake now indicating he supports the takeover and wants to sell. Last week, Crimson launched an unsolicited bid for the company’s shares at A$0.73,…