Eisa hangs on to Austar takeover

Eisa hangs on to Austar takeover

eisa has won a court bid to claim money from major shareholder Johnson Wang, overcoming the major stumbling block to a takeover offer from Austar before the September 1 deadline.

In a statement to the ASX last night, eisa announced a settlement agreement had been reached between Microsoft, Wang and KTX Holdings. The deal counts Wang as a major shareholder with 57 per cent ownership of eisa. Ironically, under the takeover deal, this means Wang stands to receive $11.3 million.

Microsoft, who has been attempting to recover $17 million in licence fees from Wang's collapsed computer company Edge, sought a court order to block Wang from claiming the proceeds of the takeover.

The success of the take-over still depends on Austar receiving acceptances from more than 50 per cent of eisa's unescrowed shareholders. Eisa confirmed yesterday it had received acceptances from 37 per cent.

Time Added: 25/08/2000 17:37:41

Follow Us

Join the newsletter!


Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.


ARN Innovation Awards 2022

Innovation Awards is the market-leading awards program for celebrating ecosystem innovation and excellence across the technology sector in Australia.

EDGE 2022

EDGE is the leading technology conference for business leaders in Australia and New Zealand, built on the foundations of collaboration, education and advancement.

Brand Post

Channel Roadmap

The Channel Roadmap is a bespoke content hub housing strategic priorities from technology vendors for 2022 and beyond, partners can find the guidance on the key technologies and markets to pursue, to help build a blueprint for future success.

Show Comments