Due diligence expires on UXC bidder

Due diligence expires on UXC bidder

UXC opens discussions with other interested parties on a non-exclusive basis

ASX-listed UXC Group (ASX:UXC) has emerged from its period of due diligence without a successful bid for the company.

It entered into the period of due diligence after an un-named entity disclosed interest in purchasing UXC in its entirety.

The period of exclusivity has expired, but the interested party will continue to conduct further financial and legal due diligence.

“Discussions with other interested parties have resumed on a non-exclusive basis,” UXC said in a statement to the ASX. “In particular, two parties have moved to the performance of due diligence on a non-exclusive basis.

“These developments, while still preliminary, will be considered in detail to determine if enhanced shareholder value can be created from any resultant transaction.”

UXC will release its FY10 results on August 31. Previous earnings guidance pins its IT group to generate a record earnings before tax and turnover of more than $450 million.

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Tags ASXUXC Groupdue diligence


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