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More takeover interest for IT firm CSG

Information technology company, CSG, receives new takeover interest following a $340 million takeover offer from an unnamed bidder last week

Information technology company CSG Ltd has received new takeover interest following a $340 million takeover offer from an unnamed bidder last week.

Shares in CSG were up $0.065 cents, or 6.16 per cent, at $1.12 at 1524 AEDT.

The Darwin-based company on September 29 advised shareholders to take no action in relation to a non-binding, indicative and confidential bid of $1.20 per share, with no adjustment for the final dividend of three cents per share to be paid on October 4.

CSG on Friday continued to recommend that shareholders take no action in relation to this offer.

It said it had since received approaches from parties expressing an interest in acquiring the company.

"The board has decided to engage in discussions with interested parties in relation to a potential change of control transaction," CSG said in a statement.

"However, there is no certainty that such discussions will lead to an agreed transaction."

Nominations for the 2012 ARN IT Industry Awards open on Tuesday, June 12.

More about: CSG

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